Business Studies: Taxes

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  • Created by: AdieOates
  • Created on: 27-04-14 12:13
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  • Taxes
    • Value Added Tax
      • A tax on the value of sales of a business.
      • Businesses that make more than a certain amount have to register to pay VAT
    • Income Tax
      • A tax on the income earned by workers and sole traders
    • National Insurance contributions
      • A tax on the earnings of workers and sole traders linked to state benefits
    • Corporation Tax
      • A tax paid by limited companies on the profits of the company

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