13 Which of the following types of income are exempt from income tax? (1) Dividend from a company (2) Interest received from an Individual Savings Account (3) 50 Premium Bond prize (4) Interest on NS& Savings Certificate (5) Interest on government securities (gilts) A. 1,2 and 4 B. 2,3 and 5 C. 2,3 and 4 D. 1,4 and 5 14 Which of the following are functions of HM Revenue & Customs (HMRC) in the UK tax system? (1) Formally impose taxation (2) Produces a wide range of explanatory notes (3) Provides advice on minimizing tax liability (4) Has the administrative function for collection of tax A. 1 and 2 B. 2 and 3 C. 1 and 4 D. 2 and 4 15 Which of the following are not revenue taxes? 1) Income tax 2) Capital gains tax 3) National Insurance 4) Inheritance tax