Her Majesty’s Revenue & Customs: Difference between revisions
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imported>Doug Williamson (Additions to Policies and Responsibilities to align with what is on HMRC website) |
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*Responsible for safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities | *Responsible for safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities | ||
*Makes sure that money is available to fund the UK’s public services | *Makes sure that money is available to fund the UK’s public services | ||
* Facilitates legitimate international trade, protects the UK’s fiscal, economic, social and physical security before and at the border, and collects UK trade statistics | |||
*Administers Statutory Payments such as statutory sick pay and statutory maternity pay | *Administers Statutory Payments such as statutory sick pay and statutory maternity pay | ||
*Helps families and individuals with targeted financial support through payment of tax credits | *Helps families and individuals with targeted financial support through payment of tax credits | ||
| Line 25: | Line 26: | ||
*Environmental taxes | *Environmental taxes | ||
*Climate change and aggregates levy and landfill tax | *Climate change and aggregates levy and landfill tax | ||
*Value Added Tax ([[VAT]]) | *Value Added Tax ([[VAT]]) including import VAT | ||
* Customs duty | |||
*Excise duties | *Excise duties | ||
* Trade statistics | |||
*National Insurance | *National Insurance | ||
*Tax Credits | *Tax Credits | ||
Revision as of 15:08, 20 January 2016
(HMRC).
UK tax.
Her Majesty's Revenuce and Customs was established by Act of Parliament in 2005 as a non-ministerial merged Department established by the Commissioners for Revenue and Customs Act (CRCA) 2005, replacing the formerly separate Inland Revenue and Customs and Excise.
Policy maintenance and implementation
- Responsible for safeguarding the flow of money to the Exchequer through collection, compliance and enforcement activities
- Makes sure that money is available to fund the UK’s public services
- Facilitates legitimate international trade, protects the UK’s fiscal, economic, social and physical security before and at the border, and collects UK trade statistics
- Administers Statutory Payments such as statutory sick pay and statutory maternity pay
- Helps families and individuals with targeted financial support through payment of tax credits
- Administers Child Benefit
- HMRC is a high volume business; almost every UK individual and business is a direct customer of HMRC
- Aims to administer the tax system in the most simple, customer focused and efficient way
- Administers the Government Banking Service
Responsibilities
- Income Tax, Corporation Tax, Capital Gains Tax, Inheritance tax, Insurance premium tax, Stamp, Land and Petroleum Revenue Taxes
- Environmental taxes
- Climate change and aggregates levy and landfill tax
- Value Added Tax (VAT) including import VAT
- Customs duty
- Excise duties
- Trade statistics
- National Insurance
- Tax Credits
- Child Benefit
- Enforcement of the National minimum wage
- Recovery of student loan repayments
See also
- Direct tax
- Exempt approved status
- Inland Revenue
- Internal Revenue Service
- MCT
- Tax avoidance
- Tax evasion
- Tax haven
- Tax point
- Tax written down value
- Taxable person
- Taxable transaction
- Taxpayer’s Charter
- Treasury
