Tax Payment - A Liability on Every Earner
Something about tax and its tradition Tax is termed as that part of income which an earner has to pay as a part of his liability towards the government.
The payable amount is decided by the govt.
depending upon the income earned.
This is calculated annually and at the end of a financial year the return is filed.
The tradition of tax payment is very old.
Earlier it used to be some part of the total outcome a farmer got of his field.
But as soon as money got introduced, it the revenue also started to be levied in monetary terms.
This kind of a burden on the side of the person as it depends on his income and consumption.
There are four R's regarding the effects of taxation, namely; revenue, redistribution, re-pricing and representation.
Taxation policy in UK Payment of taxes is thought and considered as the most distasteful thing.
In UK, tax payment is done towards two levels; central government and local government (HMRC self assessment).
The part which central govt.
deals with comprises of income tax, contribution to national insurance, Value Added Tax, corporation tax and duty on fuel.
For local govt.
the revenue gets collected through grants of the central government, council tax and other fees and charges.
In UK, a tax year is counted from 6th April of present year to 5th April of coming year.
The financial year runs from 1st April of this year to 31st March of the coming year.
Another thing is that sometimes, the tax year is also named as fiscal year.
Online tax filing Online tax filing, as the name suggests is the filing of tax through internet.
This not only saves our precious time but also makes it easy.
Some of the various benefits one can get through online tax return filing are convenient filing of tax return, accuracy (error free) filing, faster service etc.
By having an access to the internet one can enjoy the convenience of filing tax sitting at home only.
Due to error check software, an error less (free) filing can be done in online tax filing.
This is a stress free method of filing tax and even an inexperienced person can do it easily.
No doubt, taxation and taxation laws are never understood by everyone.
But the bitter fact is one has to pay tax and Online filing makes it much easier to file tax return conveniently.
Tax2go in UK
The payable amount is decided by the govt.
depending upon the income earned.
This is calculated annually and at the end of a financial year the return is filed.
The tradition of tax payment is very old.
Earlier it used to be some part of the total outcome a farmer got of his field.
But as soon as money got introduced, it the revenue also started to be levied in monetary terms.
This kind of a burden on the side of the person as it depends on his income and consumption.
There are four R's regarding the effects of taxation, namely; revenue, redistribution, re-pricing and representation.
Taxation policy in UK Payment of taxes is thought and considered as the most distasteful thing.
In UK, tax payment is done towards two levels; central government and local government (HMRC self assessment).
The part which central govt.
deals with comprises of income tax, contribution to national insurance, Value Added Tax, corporation tax and duty on fuel.
For local govt.
the revenue gets collected through grants of the central government, council tax and other fees and charges.
In UK, a tax year is counted from 6th April of present year to 5th April of coming year.
The financial year runs from 1st April of this year to 31st March of the coming year.
Another thing is that sometimes, the tax year is also named as fiscal year.
Online tax filing Online tax filing, as the name suggests is the filing of tax through internet.
This not only saves our precious time but also makes it easy.
Some of the various benefits one can get through online tax return filing are convenient filing of tax return, accuracy (error free) filing, faster service etc.
By having an access to the internet one can enjoy the convenience of filing tax sitting at home only.
Due to error check software, an error less (free) filing can be done in online tax filing.
This is a stress free method of filing tax and even an inexperienced person can do it easily.
No doubt, taxation and taxation laws are never understood by everyone.
But the bitter fact is one has to pay tax and Online filing makes it much easier to file tax return conveniently.
Tax2go in UK
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