In simple terms, taxation is a financial charge or demand imposed upon a taxpayer by a tax authority, for example HMRC in the United Kingdom.
TAXATION: The failure or evasion to meet Value Added Tax (VAT) or other debt levies bestowed upon you, or resisting income tax collection, is punishable and dealt with according to the taxation laws.
As a rule, direct and indirect taxes are settled by monetary payments, even though labour is an equivalent settlement for some administrative divisions.
UK taxation collections involve at two primary levels of government. Central government is better known as Her Majesty's Revenue and Customs collecting revenues from National Insurance (NI) contributions, personal income tax, corporation taxes, fuel duty, and value added tax (VAT).
WHAT IS CAPITAL GAINS TAX? United Kingdom capital gains tax (CGT) is a tax charge made on the increase in value from selling or giving away property, shares, or personal possessions. That means a Capital Gains charge could also be due any time you dispose of business assets that you once owned.
SMALL CLAIMS COURT: This section provides information and advice about making a Court Claim, debt recovery, and registering for insolvency or bankruptcy in the United Kingdom. As a rule, the UK Small Claims Court process is used informally to solve specific types of applications and misdemeanors which are ultimately decided by the County Court.
HOW TO DEAL WITH HM REVENUE & CUSTOMS: There are many reasons for dealing with HMRC but the common grounds to contact HM Revenue and Customs service helpdesk is to report changes to your circumstances, get help with tax, and to make a complaint.
INCOME TAX: Includes information about Income Tax rates and allowances, tax codes and refunds. Revenue to the principle tax authority in the United Kingdom - local government - comes mostly from central government funds and grants, England and Wales's business rates, Council Tax, and fees from on-street parking.
NATIONAL INSURANCE: Most employees pay voluntary National Insurance contributions. NI payments help to secure your entitlement to claim certain benefits. National Insurance contributions also assure you qualify for the State Pension in later life.
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 2017.
WHAT IS VAT? How does Value Added Tax affect my business? Click through for the beginner's guide to Value Added Tax (VAT) in the United Kingdom. As a rule, most goods' suppliers and service providers charge VAT sales tax.
Money and Tax Laws Guide and Overview