Related Research Articles
The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation, including income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, petroleum revenue tax and stamp duty. More recently, the Inland Revenue also administered the Tax Credits schemes, whereby monies, such as Working Tax Credit (WTC) and Child Tax Credit (CTC), are paid by the Government into a recipient's bank account or as part of their wages. The Inland Revenue was also responsible for the payment of child benefit.
Corporation tax in the United Kingdom is a corporate tax levied in on the profits made by UK-resident companies and on the profits of entities registered overseas with permanent establishments in the UK.
HM Revenue and Customs is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers. HMRC was formed by the merger of the Inland Revenue and HM Customs and Excise, which took effect on 18 April 2005. The department's logo is the St Edward's Crown enclosed within a circle.
Taxation in the United Kingdom may involve payments to at least three different levels of government: central government, devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2014–15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion.
Stamp duty in the United Kingdom is a form of tax charged on legal instruments, and historically required a physical stamp to be attached to or impressed upon the document in question. The more modern versions of the tax no longer require a physical stamp.
Matalan is a British fashion and homeware retailer based in Knowsley, Merseyside. It was established by John Hargreaves in 1985, and is still owned by the Hargreaves family. As of 2020, the company employed over 13,000, and had 230 stores in the United Kingdom, together with franchise stores in the Middle East.
IR35 is the United Kingdom's anti-avoidance tax legislation, the intermediaries legislation contained in Chapter 8 of Income Tax Act 2003. The legislation is designed to tax 'disguised' employment at a rate similar to employment. In this context, "disguised employees" means workers who receive payments from a client via an intermediary, i.e. their own limited company, and whose relationship with their client is such that had they been paid directly they would be employees of the client.
The Federal Board of Revenue (FBR) (Urdu: وفاقی ہیئت برائے محصولات), formerly known as Central Board of Revenue (CBR), is a federal law enforcement agency of Pakistan that investigates tax crimes, suspicious accumulation of wealth, money-laundering make regulation of collection of tax. FBR operates through Inspectors-IR that keep tax evaders under surveillance, assess taxable incomes and perform special tasks for FBR Headquarters. FBR performs role of collection of taxation in the country from all individuals and businesses.
Median household disposable income in the UK was £29,400 in the financial year ending (FYE) 2019, up 1.4% (£400) compared with growth over recent years; median income grew by an average of 0.7% per year between FYE 2017 and FYE 2019, compared with 2.8% between FYE 2013 and FYE 2017.
An important biofuel in the United Kingdom is biojet.
Sir Nicholas Lionel John Montagu KCB is a retired British Civil Servant. He was Chairman of the Inland Revenue from 1997 to 2004, before its merger with Her Majesty's Customs and Excise to create Her Majesty's Revenue and Customs in 2005.
Ingenious Media is a division of London-based Ingenious Capital Management Limited, also known as Ingenious. The company was founded in 1998 by Patrick McKenna.
David Anthony Hartnett CB is a former British civil servant who served as the Permanent Secretary for Tax at HM Revenue and Customs (HMRC) until his retirement in July 2012. Following his retirement he advised HSBC on financial crime governance alongside former Director General of the Serious Organised Crime Agency, Bill Hughes.
UK Uncut was a network of United Kingdom-based protest groups established in October 2010 to protest against cuts to public services and tax avoidance in the UK. Various sources have described the group as left-wing in its political orientation.
In the United Kingdom, the value added tax (VAT) was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994.
Pension Led Funding (PLF) is a financial services product offered in the United Kingdom (UK) that raises funds for businesses based upon the use of pension benefits accrued by owners or directors of the business they control. The money can then be used for the provision of a secured commercial loan, the purchase of commercial property, *the purchase of intellectual property assets, or the purchase of share capital.
Michael Clasper CBE is the British Chairman of Coats Group plc and the former chairman of Her Majesty's Revenue and Customs (HMRC) (2008-2012).
James (Jim) Alan Harra, is a British civil servant who has been First Permanent Secretary and Chief Executive of HM Revenue and Customs since October 2019, in succession to Sir Jonathan Thompson.
Sir John Edward Astley Troup is a British tax lawyer, and was a civil servant at HM Treasury and then HM Revenue & Customs. He spent two periods as a tax partner at the law firm Simmons & Simmons, from 1985 to 1995 and from 1997 to 2004, and was a special adviser to Kenneth Clarke as Chancellor of the Exchequer in 1995-97.
Bingo Duty is a tax levied on profits made from organising and promoting bingo games played in the United Kingdom, with certain exceptions.
References
- 1 2 3 Hounslea, Tara (26 November 2015). "The Drapers Interview: The man behind Matalan | The Drapers Interview". Drapersonline.com. Retrieved 19 May 2016.
- ↑ "John HARGREAVES – Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 19 May 2016.
- ↑ Weston, Alan (19 November 2007). "Man who founded Matalan resigns". Liverpool Daily Post. Retrieved 27 October 2009.
- ↑ "Sunday Times Rich List 2019: profiles 201-249".
{{cite web}}: CS1 maint: url-status (link) - ↑ "John Hargreaves and The Commissioners for Her Majesty's Revenue and Customs" (PDF). Tribunals.gov.uk. Retrieved 19 May 2016.
- ↑ "Advantage HMRC in Matalan founder's long-running tax dispute | TheBusinessDesk.com". North West. 21 February 2022. Retrieved 13 June 2022.