We all want to make sure that our taxes collected are paid and used in all transparency, and the following information will give you a walkthrough in what HMRC does to your taxes and what’s its role with the UK government.
This is a UK Department that belongs to a no ministerial category which is assigned for the tax collections and other related collections of state support forms as well as the NMW or the National Minimum Wage, and the rest of the Kingdom’s regulatory regimes.
Her Majesty’s Revenue and Customs is what the HMRC means. Some just call it HM Revenue, and this all started through the fusion of the HM customs and excise and of the Inland Revenue that effective from the 18th day of April Year 2005, with the logo of the crown of St. Edward that is encircled.
The main role of this department for the Kingdom is that this is the one responsible for all kinds of taxes such as direct, income, corporation, inheritance, capital and of the value added kinds of taxes. Of course, not just with the collection but also with the implementation of the collected budget, making sure that everything is used by the Kingdom’s needy with a proper distribution like for the trust fund, child benefits, and the national insurance.
This agency also is asked to the proper implementation of the national minimum wage, tax credits and also has the duty of administering the registrations of the anti-money laundering for all kinds of money business industries as well as the trade in goods’ collections and its publications. Not limited to that, they said the agency is also in charge of the United Kingdom’s boarding passes’ protection and security and all related agencies of it.
There are two major targets that the HMRC is trying to reach for the year 2008 until 2011.
These are; 1. The extent development for the businesses and the people who pay the taxes to be given the f0air advantages of using the collection to how much they deserve. 2. The goal of improving all the customers’ experiences of the said agency helping the business environment of the entire kingdom also to excel.
This is such a strong agency for both the funds and the law enforcement which is embodied with the Kingdom’s most trusted criminal investigators that are also in charge of dealing with all kinds of fiscal and organized crimes. This is such a huge agency that also covers and contributes to the data analysis, intel collections and all steps of assessments that will help solve crimes and conspiracies with the assistance of the Crown Prosecution Services and the UK Police Department.
This agency is formed through a usual organizational structure starting with the chairman and the rest of the board down to the nonexecutives. They also faced several controversies that tested their effectiveness such as the displacement of the records for the child benefits.