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