Individuals may have to pay income tax and/or capital gains tax
HMRC is responsible for the administration of tax
The tax year runs from 6 April in one year to the following 5 April
Some of the rules governing tax are laid down in statute law, while some are laid down in case law
HMRC provides guidance about how tax law works, for example in Statements of Practice, Extra Statutory Concessions and Revenue & Customs Briefs
Tax practitioners have responsibilities to their clients and to HMRC
The ethical Guideline of confidentiality means that a client's tax affairs should never be discussed with third parties without the client's permission
Tax practitioners may be required to produce information to HMRC
A tax practitioner must cease to act for a client who refuses to disclose an error or omission to HMRC, and must make a money laundering report
Money laundering occurs when the proceeds of criminal activities are converted into assets which appear to have a non-criminal origin
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