A tariff is a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable.
UTR) number is a 10-digit number that's used to identify you for tax purposes. When you register for a Self Assessment tax return, HM Revenue and Customs (HMRC) will assign you one and use it to track your income and tax payments. It's basically a type of tax ID used in the UK...
A sort code is only used in the UK and Ireland for domestic transfers. SWIFT and BIC codes are used for international transfers. They refer to the same thing, as SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a type of BIC (Bank Identifier Code). SWIFT/BIC codesare ...
The letters within a tax code stand for different things. If there is an ‘L’, this means the person is entitled to the personal allowance. For a full list of the letters and what they mean, see theGov.co.uk website. If you have been given what’s called an ‘emergency tax code...
Haven’t the foggiest what your “Personal Tax Account” is, let alone how it could help you? You’re not alone. A few years ago, research commissioned by the Post Office concluded that nearly half of UK workers had never accessed HMRC’s Personal Tax Account service, despite almost a ...
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If you want to sell goods in the UK, you'll need a Value-Added Tax number. Here's how to register for one, and how to stay VAT compliant.
The article reports on the 2011 direct tax code that will replace India's Income Tax Act of 1961. It notes that the draft code widens the taxpayers' base by simplifying the provisions for the common man and increases the tax slabs substantially but takes away the exemptions. It adds that ...
It’s a numerical code (sometimes as long as 34 digits) which is unique to each account you use. It’s used alongside your regular account number and sort code to make payments overseas. In the UK, the formatting for an IBAN uses 22 digits. It will be broken down in the following ...
A tax code is a series of numbers and letter(s) used to determine Income Tax contributions. Your employer or pension provider uses this code to deduct your tax and work out how much tax-free income you receive. HMRC will then apply your tax-free Personal Allowance, and determine the tax...