HMRC, or Her Majesty's Revenue and Customs, is the tax authority in the United Kingdom. It is responsible for collecting taxes, paying some forms of welfare, and overseeing the regulation of various financial activities. HMRC ensures that individuals and businesses comply with tax laws and regulations. In addition to tax collection, HMRC also handles customs duties and enforces laws related to trade and immigration. The agency plays a crucial role in the UK economy by ensuring that public services are funded through tax revenue, which supports infrastructure, education, and healthcare.