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In the UK, every person paid under the PAYE scheme is allocated a tax code by HM Revenue and Customs. This is usually in the form of a number followed by a letter suffix, though other 'non-standard' codes are also used. This code describes to employers how much tax to deduct from an employee. The code is normally based provided to HMRC by the ...
e. His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [ 4 ][ 5 ] 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 ...
In the United Kingdom, a tax return is a document that must be filed with HM Revenue & Customs declaring liability for taxation. Different bodies must file different returns with respect to various forms of taxation. The main returns currently in use are: SA100 for individuals paying income tax. SA800 for partnerships.
Pay-as-you-earn tax. A pay-as-you-earn tax (PAYE), or pay-as-you-go (PAYG) in Australia, is a withholding of taxes on income payments to employees. Amounts withheld are treated as advance payments of income tax due. They are refundable to the extent they exceed tax as determined on tax returns. PAYE may include withholding the employee portion ...
P45 (tax) In the United Kingdom, and formerly in the Republic of Ireland, a P45 is the reference code of a document titled Details of employee leaving work. The term is used in British and Irish slang as a metonym for termination of employment. The equivalent slang term in the United States is "pink slip". A P45 is issued by the employer when ...
A value-added tax identification number or VAT identification number (VATIN[ 1 ]) is an identifier used in many countries, including the countries of the European Union, for value-added tax purposes. In the EU, a VAT identification number can be verified online at the EU's official VIES [ 2 ] website. It confirms that the number is currently ...
The federal government levies a value-added tax of 5%, called the Goods and Services Tax (GST), and, in five provinces, the Harmonized Sales Tax (HST). The provinces of British Columbia, Saskatchewan, and Manitoba levy a retail sales tax, and Quebec levies its own value-added tax, which is called the Quebec Sales Tax.
National Insurance number. The National Insurance number is a number used in the United Kingdom in the administration of the National Insurance or social security system. It is also used for some purposes in the UK tax system. The number is sometimes referred to with the abbreviations NI, No or NINO. [ 1 ]