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Legal Terms – HM Revenue and Customs (HMRC)
HMRC is the United Kingdom’s central tax authority, formed in 2005 by the merger of Inland Revenue and HM Customs and Excise.
It administers and enforces laws relating to taxation, customs duties, and national insurance contributions, and plays a crucial role in combating tax evasion, money laundering, and fraud.
Primary functions include:
HMRC also represents the UK in international tax cooperation frameworks (e.g., OECD agreements). Its powers to investigate and recover unpaid tax are broad, but it must adhere to statutory limits and judicial oversight
HMRC is the United Kingdom’s central tax authority, formed in 2005 by the merger of Inland Revenue and HM Customs and Excise.
It administers and enforces laws relating to taxation, customs duties, and national insurance contributions, and plays a crucial role in combating tax evasion, money laundering, and fraud.
Primary functions include:
- Collecting income tax, corporation tax, VAT, and excise duties.
- Administering tax credits and child benefits.
- Managing compliance and audits for individuals and businesses.
- Implementing anti-avoidance measures such as the General Anti-Abuse Rule (GAAR).
HMRC also represents the UK in international tax cooperation frameworks (e.g., OECD agreements). Its powers to investigate and recover unpaid tax are broad, but it must adhere to statutory limits and judicial oversight
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