HM Revenue & Customs (HMRC)
The UK tax authority responsible for collecting taxes including VAT, PAYE, Corporation Tax and Self Assessment liabilities.
Also known as: HM, HMRC
Related terms
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HMRC business debt
Tax or other amounts owed by a business to HMRC, such as VAT, PAYE, CIS deductions or Corporation Tax.
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Self Assessment
The HMRC system used by individuals and certain others to report income, calculate tax and pay liabilities not fully collected at source.
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Tax assessment
A formal calculation or determination of tax due, made by the taxpayer, HMRC or another tax authority depending on the tax and circumstances.
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