Taxation
- Submitted by: ashikrahman
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- Category: English: Creative Writing
- Date Submitted: 12/14/2015 12:41 PM
- Pages: 18
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LO1: Describe the uk tax environments and explain different types of taxes in that environment.
Taxation:
Tax is a necessary toll forced by the Government. Individuals pay taxto the Government the ground of what they gain, what they own and what they purchase.A tax is a necessary payment demanded on the persons or organizations to meet the expenditure in ocurred on giving regular benefits upon the general population of a country. Taxation in the UK may include installments to at least two distinct levels of government: The central government (her majesty‘s revenue and customs) and local government. Central government revenues come largely from income tax, national insurance contributions, value added tax, corporation tax and fuel duty. Local government revenue come mostly from allowances from central government funds, business rates in England and wales, council tax and increasingly from fees and charges such as those from on-street parking. UK tax are gathered by the HM Revenue & customs governmental department and every year the Chancellor of the Exchequer frameworks a budget to tell UK resident the amount it will cost to give public service and the amount of taxis expected to pay for them.
Purposes Taxation :
Tax calculation is an arrangement of mandatory obligations demanded by government on persons, enterprises, and properties, basically as a source of income for government's costs and other purposes. It is for the reason for the government to provide people in general with the essential products and survices, income must be raised through tax assessment. The most common are: personal income taxes, corporate income taxes, property taxes, Sales taxes, Death and gift taxes, and import-export duties.
Uk tax environment:
UK's tax system is becoming gradually uncompetitive in comparison to the tax systems in other countries.the governments goal is to make the uk the best place in the world for its residence.government’s tax policies may be affect by...
Taxation:
Tax is a necessary toll forced by the Government. Individuals pay taxto the Government the ground of what they gain, what they own and what they purchase.A tax is a necessary payment demanded on the persons or organizations to meet the expenditure in ocurred on giving regular benefits upon the general population of a country. Taxation in the UK may include installments to at least two distinct levels of government: The central government (her majesty‘s revenue and customs) and local government. Central government revenues come largely from income tax, national insurance contributions, value added tax, corporation tax and fuel duty. Local government revenue come mostly from allowances from central government funds, business rates in England and wales, council tax and increasingly from fees and charges such as those from on-street parking. UK tax are gathered by the HM Revenue & customs governmental department and every year the Chancellor of the Exchequer frameworks a budget to tell UK resident the amount it will cost to give public service and the amount of taxis expected to pay for them.
Purposes Taxation :
Tax calculation is an arrangement of mandatory obligations demanded by government on persons, enterprises, and properties, basically as a source of income for government's costs and other purposes. It is for the reason for the government to provide people in general with the essential products and survices, income must be raised through tax assessment. The most common are: personal income taxes, corporate income taxes, property taxes, Sales taxes, Death and gift taxes, and import-export duties.
Uk tax environment:
UK's tax system is becoming gradually uncompetitive in comparison to the tax systems in other countries.the governments goal is to make the uk the best place in the world for its residence.government’s tax policies may be affect by...