Introduction to Taxation Taxation is a crucial aspect of governance and economic stability, providing the necessary funds for public services and infrastructure. In the United Kingdom, taxes are levied by the government to support essential services such as healthcare, education, and social welfare. Understanding tax laws and obligations is vital for citizens and businesses alike. […]
Understanding HMRC and Its Functions in the UK Tax System
Introduction to HMRC The Her Majesty’s Revenue and Customs (HMRC) is a vital institution in the United Kingdom, responsible for the collection of taxes, the payment of some forms of state support, and the enforcement of tax compliance. As the UK government body that oversees tax revenue, understanding HMRC’s role is crucial for both citizens […]