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  2. Research and Development Tax Credit - Wikipedia

    en.wikipedia.org/wiki/Research_and_Development...

    HMRC publish full details of the progression of the tax deduction and payable credit rates on their website . [4] The steady state cost of the whole scheme is approximately £1.3 billion [5] per annum in terms of corporation tax revenues foregone by HM Treasury.

  3. Child tax credit - Wikipedia

    en.wikipedia.org/wiki/Child_tax_credit

    A child tax credit (CTC) is a tax credit for parents with dependent children given by various countries. The credit is often linked to the number of dependent children a taxpayer has and sometimes the taxpayer's income level. For example, in the United States, only families making less than $400,000 per year may claim the full CTC. Similarly ...

  4. HM Revenue and Customs - Wikipedia

    en.wikipedia.org/wiki/HM_Revenue_and_Customs

    EDS ran the Inland Revenue's tax and National Insurance system from 1994 to 2004. In 2003, the launch of a new tax credit system led to over-payments of £2 billion to over two million people. EDS later paid £71.25 million in compensation for the disaster. In 2004, the contract was awarded to Capgemini.

  5. United Kingdom corporation tax - Wikipedia

    en.wikipedia.org/wiki/United_Kingdom_corporation_tax

    There was a matching reduction in the basic income tax rate on dividends to 10%, while a new higher-rate of 32.5% was introduced which led to an overall effective 25% tax rate for higher rate taxpayers on dividends (after setting this "notional" tax credit against the tax liability).While non-taxpayers were no longer able to claim this amount ...

  6. Tax evasion - Wikipedia

    en.wikipedia.org/wiki/Tax_evasion

    Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others.Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income, profits or gains than the amounts actually earned, overstating ...

  7. Value-added tax in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Value-added_tax_in_the...

    The rates of Purchase Tax at the start of 1973, when it gave way to VAT, were 13, 22, 36 and 55%. [clarification needed] On 1 January 1973 the UK joined the European Economic Community and as a consequence Purchase Tax was replaced by Value Added Tax on 1 April 1973.

  8. P11D - Wikipedia

    en.wikipedia.org/wiki/P11D

    Form P11D (Expenses and Benefits) is a tax form filed by United Kingdom employers for each director and for each employee and sent to the tax office with which their PAYE scheme is registered. P11Ds are used to report benefits provided and expense payments made to employees by employers that are not put through the payroll.

  9. Taxation in the United Kingdom - Wikipedia

    en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom

    The 'tax gap' is the difference between the amount of tax that should, in theory, be collected by HMRC, against what is actually collected. The tax gap for the UK in 2013–14 was £34 billion, or 6.4 percent of total tax liabilities. It can be broken down by tax type