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Connect (computer system) Connect is a new social network analysis software data mining computer system developed by HMRC (UK) that cross-references business's and people's tax records with other databases to establish fraudulent or undisclosed (misdirected) activity.
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 ...
An individual savings account (ISA; / ˈaɪsə /) is a class of retail investment arrangement available to residents of the United Kingdom. First introduced in 1999, the accounts have favourable tax status. Payments into the account are made from after-tax income, then the account is exempt from income tax and capital gains tax on the ...
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. The system was set up by the Office of the e-Envoy and allows users to register as either an ...
In 2015, Chancellor of the Exchequer George Osborne promised to collect £5 billion by "waging war" on tax evaders by announcing new powers for HMRC to target people with offshore bank accounts. [45] The number of people prosecuted for tax evasion doubled in 2014/15 from the year before to 1,258. [46]
Having linked accounts can prove useful when you want to pay bills or add money to your savings. To help ensure it's safe to link your accounts, banks use measures such as encrypting data and ...
A self-invested personal pension (SIPP) is the name given to the type of UK government -approved personal pension scheme which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and Customs (HMRC). SIPPs are "tax wrappers", allowing tax rebates on contributions in exchange for ...
Joint bank accounts can be a powerful tool for anyone looking to streamline their financial lives and work together toward common goals. Here are some of the many benefits: It's easier to manage ...