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Making Tax Digital (MTD) is a UK government initiative that sets out a vision for the 'end of the tax return' and a 'transformed tax system', announced in 2015 and originally intended to be in place by 2020. [1]
The Government Gateway is an IT system developed to allow applicants to register for online services provided by the UK Government, such as obtaining a driving licence and HMRC self-assessment. [1] This replaced the old system of paper submissions.
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.
In the March 2020 budget the government announced that it would move women's sanitary products into the zero-rated group, as pledged in the 2016 budget, from 1 January 2021, the first date possible after EU VAT law ceased to apply to the UK.
The Valuation Office Agency is a government body in England and Wales. It is an executive agency of His Majesty's Revenue and Customs . The agency values properties for the purpose of Council Tax and for non-domestic rates in England and Wales (in Scotland this function is performed by the Scottish Assessors ).
A non-domiciled UK resident earning less than £2,000 in a year outside the UK does not pay tax on this unless it is transferred to the UK. This would apply to the typical person taking up a temporary job in the UK, being paid, and paying tax on it, in the UK, with possible additional small earnings in the home country.
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.
For a VAT and sales tax of identical rates, the total tax paid is the same, but it is paid at differing points in the process. VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax).