Start up, taxes and legal issues 0.0 / 5 ? Business StudiesStarting a businessGCSEAll boards Created by: 854aliCreated on: 05-05-14 21:09 VAT Value Added Tax is a tax on the value of a business. 1 of 5 Income tax a tax on the income earned by workers and sole traders 2 of 5 National Insurance Contributions a tax on earnings of workers and sole traders linked to state benefits 3 of 5 Corporation Tax a tax paid by limited companies on the profits of the company 4 of 5 business have to have a legislation so that the government can keep track of the activity, collect taxes 5 of 5
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