People in the United Kingdom pay their taxes through the HMRC (an acronym that stands for Her Majesty’s Revenue and Customs), and it is one of the non-ministerial departments under the government of the United Kingdom. The department is responsible not only for collecting the taxes from the people, but they are also looking after the payments of state support and administering regulatory regimes, which include the identification of a national minimum wage rate. The HMRC was created in 2005, and it resulted from the merger of two government agencies – Her Majesty’s Customs and Excise, and the Inland Revenue.
Through the years, the HMRC effectively imposed rates on how much taxes the people should pay. The government agency has been collecting different taxes from the people, including Income Tax, Inheritance Tax, Capital Gains Tax, and Corporation Tax. The HMRC is also collecting Value Added Taxes from the people, as well as the stamp duty tax and the excise duties. People who are frequently flying also pay taxes such as the Climate Change Levy and the Air Passenger Duty and the proceeds will be used to combat global warming by promoting an eco-friendly lifestyle among the people. The National Insurance Contributions, which distribute state support to the people as well as child benefit support, is also handled by the government agency. The HMRC is also fighting criminals who are involved in money laundering, protecting the circulation of the money in the country. They are also after the smugglers who are trying to import items into the United Kingdom without paying their duties to customs.
The HMRC helpline number can also be contacted if there are additional inquiries regarding the tax dues of individuals and businesses. People who have been working with the HMRC are reporting that they experienced a different level of satisfaction after they contacted the helpline because the people are helpful, and they were assisted from start to end. Because of the strict policies from the HMRC, individuals and businesses across the United Kingdom are paying their taxes regularly, and it contributes a lot to the country’s public funds.
The HMRC is one of the most active government agencies in the United Kingdom, and in the 2016-2017 calendar year, the government agency is believed to have collected £557 billion for the country’s Treasury. However, the HMRC also reported that they were not able to collect £33 billion due to tax evasion, errors on their part, or because of unpaid tax debts. They are working hard to be more efficient in collecting taxes, and the amount that they collected for the 2016-2017 period is a drastic increase from what they used to collect in the past.
The HMRC stated that they will continue to perform their duties for the country, and they will be implementing new rules and regulations in the future to catch those who are trying to evade paying their taxes. They are going to implement strict laws that would ensure every business and individuals who are based in the United Kingdom will be paying the correct taxes on the next payment cycle.