The HMRC is United Kingdom’s one authority for taxes, payments, and customs. Their one and only reason for existence is to collect funds from United Kingdom citizens that they owe so that public services can be funded for properly. The collected funds also help provide for single individuals and families that are in need of financial support. The employees of the HMRC are only able to collect the needed funds by remaining completely impartial to the citizens and finding new and better ways to be more effective in their administration. The goal is to make doing taxes as easy as possible for hard working people while making the system bulletproof for keeping out dishonest people who want to cheat the system.
In 2005, Parliament signed an act to establish the HMRC to replace a department called the Inland Revenue and Customs and Excise. The Commissioners for Revenue and Customs Act, also known as the CRCA is what officially signed the department into being in 2005. the commissioners of the CRCA are hand appointed by the Queen and are picked from the Department’s top management, that are again approved by the Queen herself. The Commissioners of the HMRC report to the treasury which is how they answer to parliament. The minister of the Treasury is who oversees the spending of the department to make sure their spending is going to the appropriate places.
The Treasure and the HMRC work together to make tax policies and implement them. While the Treasury Department actually creates and writes out developmental policies and strategic tax policies, the HMRC takes up the task of enforcing the maintenance and implementation of the policies created. This arrangement in which they partner up and work together to make the policies work is known as “Policy Partnership.”
The HMRC is responsible for a wide variety of things. They safeguard the flow of money by making sure it is collected and delegated out to the right activities. They ensure that the money is available and is budgeted correctly so that the United Kingdom’s public services are well funded. They also budget for Statutory Payments and make sure there is allotted money for people on extended sick and maternity leave so they can have payments given to them. The collected money is also used to help individual people and families that are in need of extra financial assistance. The HMRC is basically a high-volume business that aims to make the UK tax system as simple, efficient, and safe as possible.
HMRC is responsible for the entire scope of taxes. They cover income, Corporation, Inheritance, insurance premium, environmental, and many more taxes. They also help to enforce trade statistics, Child Benefits, National Minimum Wage, Customs duty, and more. They cover a wide scope of responsibilities, but they have three main objectives that they focus on: these are to maximize revenues and make sure people are unable to avoid or evade their taxes, transform tax payments to make it easier for customers and to deliver an organization that is both professional and efficient. Dial HMRC helpline phone here.