Taxation is a financial charge or demand imposed upon a taxpayer by a tax authority. An example is the way that HMRC collect money and taxes in the United Kingdom.
TAXATION: There are severe penalties for failing to meet or evading tax and other debt levies bestowed upon citizens in Britain.
In fact, resisting income tax collection is a punishable offence and dealt with according to UK taxation laws.
As a rule, monetary payments settle direct and indirect taxes. But, labour can be an equivalent settlement for some administrative divisions.
UK taxation collections involves two primary levels of government. Central government is officially known as Her Majesty's Revenue and Customs, HM Revenue and Customs, or HMRC.
HMRC collect revenues from National Insurance (NI) contributions, personal Income Tax, Corporation taxes, Fuel Duty, and Value Added Tax (VAT).
This guide to money and taxes lists the most important categories of taxation in the United Kingdom. Each section has further links to the category overview and a list of topics about money and tax.
EMPLOYMENT LAW: The list of employment rules and regulations is a human resource guide. Find information for employers and employees with extra details on benefits, pensions, and workers' rights.
CGT GUIDE: The section explains the amount of gains and allowances (tax rates) you can make each year. Check how you become liable for Capital Gains Tax - even though some capital gain is tax-free.
SMALL CLAIMS COURT: The section has information on making court claims and debt recovery processes. Find advice on how to register for insolvency or bankruptcy in the United Kingdom.
HMRC: There are many reasons to deal with HM Revenue and Customs service helpdesk. You can report changes, get help with tax, and make a complaint.
TAX LAWS: The section has information on all matters of Income Tax laws and personal taxation. It also includes guidance on tax rates, refunds, allowances, and tax codes.
AVOIDING IHT: The topic of death duties is a complex one. But, a few simple Inheritance Tax planning ideas can save a lot of money for your loved ones in the event of your death.
NIC HELPLINE: UK NI is a system of compulsory payments paid by employers and workers. Browse through the National Insurance section for information and helpline telephone number.
SELF ASSESSMENT RULES: The Self Assessment helpline section is for anyone who needs some extra guidance. It explains the new Self Assessment tax return rules for 2018.
VAT EXPLAINED: Value Added Tax is a levy charged on almost all goods and services. Browse through a simple VAT guide for beginners and learn how it affects business.
Money and Tax Explained: Taxation Guide and Overview for the United Kingdom