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  2. Value-added tax in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Value-added_tax_in_the...

    In 2006 the loss was estimated to be between £13bn and £18bn, equivalent to £1 for every £6 of VAT due. [45] The bulk of the lost revenue, about £1 in every £8 of VAT due, is due to evasion. [46] Evasion, which is illegal, occurs when registered businesses pay over to HMRC less than they should.

  3. Tax returns in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Tax_returns_in_the_United...

    Before the advent of Real Time Information (RTI), at the end of the tax year, employers operating PAYE schemes had to report to HMRC their employees, the total that had been paid to them, the amounts of income tax and national insurance contributions (NICs) that had been deducted from those payments, and the amount of employer's NICs due. This ...

  4. Accounting period (UK taxation) - Wikipedia

    en.wikipedia.org/wiki/Accounting_period_(UK...

    An accounting period is a period with reference to which United Kingdom corporation tax is charged. [1] It helps dictate when tax is paid on income and gains. An accounting period begins whenever a company comes within the corporation tax charge, and whenever an accounting period ends without the company ceasing to be within the charge.

  5. Making Tax Digital - Wikipedia

    en.wikipedia.org/wiki/Making_Tax_Digital

    Under MTD, taxpayers will send HMRC summaries of their income and expenditure at least four times a year. HMRC says this will enable a more ongoing and accurate projection of tax due, as opposed to the current system of one tax bill at the end of the year. To do this, taxpayers will need to integrate their accounts with software in some way.

  6. HM Revenue and Customs - Wikipedia

    en.wikipedia.org/wiki/HM_Revenue_and_Customs

    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 insurance numbers.

  7. Taxation in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom

    [citation needed] Until 2001, VAT was charged at the full rate on sanitary towels. [58] VAT was introduced in 1973, in consequence of Britain's entry to the European Economic Community, at a standard rate of 10 per cent. In July 1974, the standard rate became 8 per cent and from October that year petrol was taxed at a new higher rate of 25 per ...

  8. European Union value added tax - Wikipedia

    en.wikipedia.org/wiki/European_Union_value_added_tax

    EU VAT Tax Rates. The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt in national legislation a value added tax that complies with the EU VAT code.

  9. Invoice - Wikipedia

    en.wikipedia.org/wiki/Invoice

    Total Amount Due; Footer. Payment details (such as indicating one or more acceptable methods of payment, and details about charges for late payments, etc.); Credit Terms; Tax or company registration details of the seller, if relevant, e.g. ABN for Australian businesses or VAT number for businesses in the EU;