Vocabulary

HMRC (HM Revenue and Customs) - the English tax office
CIS (Construction Industry Scheme) - a number allocated by HMRC for constructors and sub constructors
VAT (Value Added Tax) - podatek od towarow i uslug, standardowa stawka w UK wynosi w tej chwili 20%
Payroll - all financial records of salaries for an employee, such as wages and deductions
PAYE - a unique number assigned to an employer by HMRC
Self-employed/Self-Assessment - a business operated by a single individual
Limited Company (LTD) - a company with a limited liability
Tax Corporation - an annual tax form for a Limited Company
Partnership - a civil partnership
Tax Return - an annual tax form that can be filed with a government body for employees and self-employed

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