imported>Doug Williamson |
imported>Doug Williamson |
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| ''UK tax''. | | 1. ''Risk management''. |
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| (HMRC).
| | Intentional overcapacity in any system, to act as a backup in case of failures or unexpected future demand. |
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| Her Majesty's Revenue and Customs was established in the UK 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 UK Inland Revenue and Customs and Excise.
| | 2. ''Risk management.'' |
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| | Intentional repetition in communications or data, so that if part of a message is lost or corrupted, the communication will still be understood. |
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| __TOC__
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| | 3. |
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| ===Policy maintenance and implementation===
| | Unnecessary or wasteful repetition or overcapacity. |
| *Responsible for safeguarding the flow of money to the UK Exchequer through collection, compliance and enforcement activities
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| *Makes sure that money is available to fund the UK’s public services
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| * Facilitates legitimate international trade, protects the UK’s fiscal, economic, social and physical security before and at the border, and collects UK trade statistics
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| *Administers Statutory Payments such as statutory sick pay and statutory maternity pay
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| *Helps families and individuals with targeted financial support through payment of tax credits
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| *Administers Child Benefit
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| *HMRC is a high volume business; almost every UK individual and business is a direct customer of HMRC
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| *Aims to administer the tax system in the most simple, customer focused and efficient way
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| *Administers the UK's Government Banking Service
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| ===Responsibilities===
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| *UK [[Income Tax]], [[Corporation Tax]], [[Capital Gains Tax]], [[Inheritance tax]], Insurance premium tax, Stamp, Land and Petroleum Revenue Taxes
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| *Environmental taxes
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| *Climate change and aggregates levy and landfill tax
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| *Value Added Tax ([[VAT]]) including import VAT
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| *Customs duty
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| *Excise duties
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| *Trade statistics
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| *National Insurance
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| *Tax Credits
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| *Child Benefit
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| *Enforcement of the UK's National Minimum Wage
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| *Recovery of student loan repayments
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| *Anti-money laundering supervision
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| | | The ending of an employment at the instigation of the employer. |
| HMRC's work is scrutinised by, among others, the UK parliament's Public Accounts Committee.
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| == See also == | | == See also == |
| * [[Anti money laundering]] | | * [[Black swan]] |
| * [[Customs duty]] | | * [[Employer]] |
| * [[Direct tax]] | | * [[Guide to risk management]] |
| * [[Exempt approved status]] | | * [[Heuristic]] |
| * [[HM Treasury]] | | * [[Last in first out]] |
| * [[Income Tax]] | | * [[Optimisation]] |
| * [[Inland Revenue]] | | * [[Probability]] |
| * [[Internal Revenue Service]] | | * [[Retrenchment]] |
| * [[National Insurance]] | | * [[Risk]] |
| * [[Public Accounts Committee]] | | * [[Stress test]] |
| * [[Tax ]]
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| * [[Tax avoidance]]
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| * [[Tax evasion]]
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| * [[Tax haven]]
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| * [[Tax point]]
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| * [[Tax written down value]]
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| * [[Taxable person]]
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| * [[Taxable transaction]]
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| * [[Taxpayer’s Charter]]
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| * [[Treasury]]
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| == External link ==
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| [https://www.gov.uk/government/organisations/hm-revenue-customs/about About us - HMRC]
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| [[Category:Accounting,_tax_and_regulation]] | | [[Category:The_business_context]] |
| | [[Category:Identify_and_assess_risks]] |
| | [[Category:Manage_risks]] |
| | [[Category:Risk_frameworks]] |
| | [[Category:Technology]] |