Income tax code is a code number issued by HM Revenue and Customs (HMRC) which takes account of the personal allowance and any other additional allowances. It is used by employers through the PAYE scheme to calculate the taxable pay, ensuring the tax due for the fiscal year is deducted from the employee's earnings in equal weekly or monthly amounts.
A civil servant responsible to HM Revenue and Customs for issuing tax returns and assessments, conducting appeals, and agreeing on tax liabilities with taxpayers.
Pay-as-you-earn (PAYE) is the UK scheme for collecting income tax and National Insurance contributions. It places the responsibility on employers to collect these taxes from employees as payments are made.
A Tax Deposit Certificate is issued by HM Revenue and Customs (HMRC) to a taxpayer who has made an advance payment for future liabilities such as income tax, capital-gains tax, or inheritance tax. It offers an interest-bearing option for managing tax obligations efficiently.
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