Taxes

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  • Definition: A tax on the value of income earned by workers; this includes sole traders
    • Income Tax
      • Taxes
        • VAT (Value Added Tax)
          • Definition: A tax on the value of sales: it is paid by businesses to government
          • Businesses that sell more than a certain amount will register to pay VAT
  • Definition: A tax paid by limited companies on the profit of the company
    • Corporation Tax
      • Taxes
        • VAT (Value Added Tax)
          • Definition: A tax on the value of sales: it is paid by businesses to government
          • Businesses that sell more than a certain amount will register to pay VAT

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