The tax legislation, and HMRC guidance notes, often refer to “Direct” or “Indirect” taxes. There can often be different rules applying – depending on which of the two categories a particular tax or duty falls into. For example, the assessing time limits (the rules applying to how many previous years HM Revenue and Customs can re-open) are different for Income Tax and VAT. And different rules apply to the different taxes where so-called “offshore matters” are involved.
Here are 2 lists of the different types of taxes: Direct and Indirect.
Direct Taxes:
• Annual Tax on Enveloped Dwellings
• Apprenticeship Levy
• Capital Gains Tax
• Corporation Tax
• Digital Services Tax
• Diverted Profit Tax
• Employee related Share Schemes
• High Income Child Benefit
• Income Tax
• Inheritance Tax
• National Insurance contributions
• Petroleum Revenue Tax
• Stamp Duty Land Tax
• Stamp Duty Reserve Tax
• statutory payments
• student loan repayments
• tax avoidance schemes (penalty decisions relating to follower notices and accelerated payments)
• taxation of coronavirus (COVID-19) support payments.
Indirect Taxes:
• Aggregates Levy
• Air Passenger Duty
• Alcoholic Liquor Duties
• Alcohol Wholesaler Registration Scheme
• Bingo Duty
• Climate Change Levy
• Counter-Terrorism decisions
• Customs Duty
• Fulfilment house due diligence scheme
• Gaming Duty
• General Betting Duty
• Hydrocarbon Oils Duties
• Insurance Premium Tax
• Landfill Tax
• Lottery Duty
• Machine Games Duty
• money laundering decisions
• Plastic Packaging Tax (from April 2022)
• Pool Betting Duty
• Raw Tobacco Approval Scheme
• Remote Gaming Duty
• Soft Drinks Industry Levy
• Tobacco Products Manufacturing Machinery Licencing Scheme
• Tobacco Products Duty
• VAT.
How can Lynam Tax Enquiry Experts help me?
Lynam Tax partners have a vast amount of practical experience in managing Tax Investigations and Tax Enquiries. We can advise you on the best course of action and if appropriate, help you manage any necessary disclosures, in order to obtain the optimum outcome for you, your business and your family.
*For a free, private, no obligation consultation, call today:
Paul Lynam: 0845 643 9997
Andrew Nutbrown: 07718 778710