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HM Revenue and Customs

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The responsibility of collecting tax and paying out Tax Credits and Child Benefits belongs to HM Revenue & Customs (HMRC). HMRC was formed in 2005, the result of a merger of Inland Revenue and HM Customs and Excise. The department was created to ensure tax is paid at the right time, and any benefits or credits are paid correctly.

HMRC collect and administer:

  • Direct taxes - paid by you or your business on money you earn or capital you gain
  • Capital Gains Tax
  • Corporation Tax
  • Income Tax
  • Inheritance Tax
  • National Insurance Contributions
  • Indirect taxes - paid by you or your business on money spent on goods or services
  • Excise duties
  • Insurance Premium Tax
  • Petroleum Revenue Tax
  • Stamp Duty
  • Stamp Duty Land Tax
  • Stamp Duty Reserve Tax
  • VAT

HMRC pay and administer:

  • Child Benefit
  • Child Trust Fund
  • Tax Credits.

HMRC enforces and administers:

  • Border and frontier protection
  • Environmental taxes
  • National Minimum Wage enforcement
  • Recovery of student loans