Taxes

In the developed countries, taxation is a very important subject that permeates all public services. In the UK, HMRC is a non-ministerial department of the UK Government which is responsible for the collection of taxes and the making sure that money collected is available to fund the UK’s public services. They deal with the administration regulatory regimes in the UK which include PAYE, Tax refund and also, the National Minimum Wage. For more information, please click on the link below.

[www.hmrc.gov.uk ]

 

This department is also responsible for the administration and collection of direct taxes, for example, income tax and corporation tax; and also, indirect taxes which include VAT (Value Added Tax), excise duties and so on. Student loans are another aspect that is under the control of the HMRC as this uses public taxes to fund students in their pursuit of higher education.

  • Every country has a system whereby taxes are paid by the public and handled by a department of...

  • PAYE is the method used to pay income tax and national insurance contributions...

  • VAT

    VAT is a tax that is charged on most goods and services that VAT-registered...

  • This involves completing a tax return each year. You show your income and capital gains (profits...