- Inland Revenue
the branch of the administration responsible for collecting direct taxes from the citizen. The administration of the UK tax system is in the hands of two bodies, namely the Commissioners of Customs and Excise, who have jurisdiction over indirect taxes, and the Commissioners of Inland Revenue, who have jurisdiction over direct taxes. Thus, value-added tax is dealt with by the Customs and Excise, while income tax, capital gains tax, corporation tax, inheritance tax and stamp duty are within the province of the Inland Revenue. The powers of the Department of Customs and Excise in relation to value-added tax derive from the Customs and Excise Management 1979 and the Value Added Tax Act 1983; the powers of the Inland Revenue derive particularly from the Taxes Management Act 1970, the Income and Corporation Tax Chargeable Gains Act 1992.
Collins dictionary of law. W. J. Stewart. 2001.
- Inland Revenue
The former UK government department responsible for the administration of income tax, corporation tax, capital gains tax, petroleum revenue tax, inheritance tax, national insurance contributions and stamp duties (stamp duty). The Inland Revenue was merged with Customs & Excise on 18 April 2005 to form HM Revenue & Customs.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
Inland Revenue — ˌInland ˈRevenue written abbreviation IR noun TAX ORGANIZATIONS the government department that collected income taxes in Britain until 2005, when a new department, HM Revenue and Customs, was formed see also Internal Revenue Service * * * The… … Financial and business terms
Inland Revenue — n the Inland Revenue the government department which collects national taxes in Britain … Dictionary of contemporary English
inland revenue — ► NOUN Brit. ▪ public revenue consisting of income tax and some other direct taxes … English terms dictionary
Inland Revenue — This article is about the United Kingdom government department. For other countries, see Inland Revenue Department. The Inland Revenue was, until April 2005, a department of the British Government responsible for the collection of direct taxation … Wikipedia
Inland Revenue — noun a board of the British government that administers and collects major direct taxes • Syn: ↑IR • Regions: ↑United Kingdom, ↑UK, ↑U.K., ↑Britain, ↑United Kingdom of Great Britain and Northern Ireland, ↑Gre … Useful english dictionary
Inland Revenue — /ˌɪnlənd revənju:/ noun a British government department dealing with taxes (income tax, corporation tax, capital gains tax, inheritance tax, etc.) but not duties, such as VAT, which are collected by the Customs and Excise ● He received a letter… … Dictionary of banking and finance
Inland Revenue — N PROPER In Britain, the Inland Revenue is the government authority which collects income tax and some other taxes … English dictionary
Inland Revenue — See Board of Inland Revenue … Big dictionary of business and management
Inland Revenue — the government department in charge of the tax system in Britain. It collects income tax, as well as other taxes including capital gains tax, corporation tax, inheritance tax and stamp duty. The equivalent in the US is the Internal Revenue… … Universalium
inland revenue — noun Brit. public revenue consisting of income tax and some other direct taxes … English new terms dictionary