Tax Liabilities

Inspector of Taxes
A civil servant responsible to HM Revenue and Customs for issuing tax returns and assessments, conducting appeals, and agreeing on tax liabilities with taxpayers.
Tax Evasion
Minimizing tax liabilities illegally, typically by not disclosing taxable income or providing false information to tax authorities. It contrasts with tax avoidance, which is the legal practice of reducing tax liabilities through lawful means.
Tax Shield
A tax shield refers to allowable deductions that reduce a taxpayer's taxable income, thereby decreasing the amount of tax owed.

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