The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation, including income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, petroleum revenue tax and stamp duty. Her Majesty's Government of the United Kingdom contains a number of Ministers and Secretaries of State. Her Majesty's Government, or when the monarch is male His Majesty's Government, is the title used by the Government of the United Kingdom, based at The term direct tax has more than one meaning a colloquial meaning and in the United States a constitutional law meaning National Insurance (NI is a system of taxes and related Social security benefits in the United Kingdom. A capital gains tax (abbreviated CGT) is a Tax charged on Capital gains the profit realized on the sale of a non-inventory Asset that was purchased In the United Kingdom, Inheritance Tax was first introduced as a tax on estates in England and Wales over a certain value from 1796 then called legacy succession Throughout this article the unqualified term "pound" and the £ symbol refer to the United Kingdom pound. Petroleum revenue tax ( PRT) is a Direct tax collected in the United Kingdom. Stamp duty is a form of Tax that is levied on documents Historically a physical stamp (a Tax stamp) had to be attached to or impressed upon the document to denote More recently, the Inland Revenue also administered the Tax Credits schemes (see [1]), whereby monies, such as Working Tax Credit (WTC) and Child Tax Credit (CTC), are paid by the Government into a recipient's bank account or as part of their wages. Working tax credit ( WTC) is a component of the current Tax credits scheme in the United Kingdom - part of the system of means-tested social security benefits A child tax credit is a Tax credit based on the number of dependent children in a family The Inland Revenue was also responsible for the payment of child benefit. Child benefit (or family allowance children's allowance is a Social security payment disbursed to the parents or guardians of Children Child benefit is means-tested
The Inland Revenue was merged with HM Customs and Excise to form a new department, HM Revenue and Customs, with effect from 18 April 2005. Events 1025 - Bolesław Chrobry is crowned in Gniezno, becoming the first King of Poland. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Inland Revenue is thus now part of HM Revenue and Customs (the name "Inland Revenue" is still used by the department), and it is still widely known by British people as the legal tax department, and often referred to as "the Tax Man".
History of the Inland Revenue
The beginnings of the Inland Revenue date from 1665, when a Board of Taxes was set up following the introduction of special taxes to pay for the Second Anglo-Dutch War. The Second Anglo-Dutch War was fought between England and the United Provinces from 4 March, 1665 until 31 July, 1667. A central organisation to supervise the collection of the special taxes was required.
Taxes administered by the Board of Taxes included the land tax, first levied in 1692, together with an assortment of other assessed taxes, including taxes on houses, windows and dogs. The window tax was a Glass tax which was a significant social cultural and architectural force in the kingdoms of England, Scotland and then Great Income tax was introduced in various forms in 1797, 1799, 1803 to 1816, and then reintroduced as an annual tax in 1842 which is formally renewed in each year's Finance Act. In the UK, the Chancellor of the Exchequer delivers an annual Budget speech on Budget Day, outlining changes in spending as well as Tax and Duty
A separate Board of Stamps was created by the Stamps Act 1694. During the eighteenth and early nineteenth centuries, stamp duties were extended to cover newspapers, pamphlets, lottery tickets, apprentices' indentures, advertisements, playing cards, dice, hats, gloves, patent medicines, perfumes, insurance policies, gold and silver plate, hair powder and armorial bearings (coats of arms). A newspaper is a written Publication containing News, information and Advertising, usually printed on low-cost paper called Newsprint. A pamphlet is an unbound Booklet (that is without a hard cover or binding) A lottery is a form of Gambling which involves the drawing of lots for a prize Apprenticeship is a system of Training a new generation of practitioners of a skill An Indenture is a legal Contract between two parties particularly for indentured labour or a term of Apprenticeship but also for certain land Advertising is a form of Communication that typically attempts to persuade potential Customers to Purchase or to consume more of a particular Brand A playing card is a piece of specially prepared heavy paper thin card or thin plastic figured with distinguishing motifs and used as one of a set for playing Card games For other uses see either Die or Dice (disambiguation. Dice (the Plural of Die, from Old French A hat is a headcovering It may be worn for protection against the elements for religious reasons for safety or as a Fashion accessory. A glove ( Middle English from Old English glof) is a type of Garment (and more specifically a Fashion Patent medicine is the somewhat misleading term given to various medical Compounds sold under a variety of names and labels though they were for the most part actually Perfume is a mixture of fragrant Essential oils and Aroma compounds Fixatives and Solvents used to give the human body animals objects and living Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss Gold (ˈɡoʊld is a Chemical element with the symbol Au (from its Latin name aurum) and Atomic number 79 Silver (ˈsɪlvɚ is a Chemical element with the symbol " Ag " (argentum from the Ancient Greek: ἀργήντος - argēntos gen A coat of arms or armorial bearings (often just arms for short in European tradition is a design belonging to a particular person (or group of people
In June 1833, a single body of Commissioners was set up to merge the revenues of stamps and taxes. The Board of Taxes and the Board of Stamps were formally combined under the Land Tax Act 1834.
The Board of Inland Revenue was created under the Inland Revenue Board Act 1849, after the Board of Excise and the Board of Stamps and Taxes were amalgamated. Responsibility for excise taxes was transferred to the Board of Customs and Excise in 1909. Excise or Excise tax (sometimes called an excise duty) is a type of Tax charged on goods produced within the country (as opposed to Customs duties
The 2004 Budget included proposals to merge HM Customs and Excise with the Board of Inland Revenue to form a new department, HM Revenue & Customs (HMRC). Budget (from French bougette, purse generally refers to a list of all planned expenses and revenues The merger was implemented by the Commissioners for Revenue and Customs Act 2005 with effect from 18 April 2005. The Commissioners for Revenue and Customs Act 2005 is an Act of Parliament in the United Kingdom that combined the Inland Revenue and HM Customs Events 1025 - Bolesław Chrobry is crowned in Gniezno, becoming the first King of Poland. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar.
See also
- Minister of Inland Revenue
- HM Revenue and Customs - Formed by the 2005 merger of the Inland Revenue and Customs and Excise
- Inland Revenue Department (Hong Kong) - a department of Hong Kong Government responsible for collecting tax
- Inland Revenue Department (New Zealand)
- Internal Revenue Service — United States tax collection department
External links
- HM Revenue & Customs
- Records of the Boards of Stamps, Taxes, Excise, Stamps and Taxes, and Inland Revenue
- History of tax
- Re tax credits
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