8 Business tax
‘...in this world nothing can be said to be certain, except death and taxes.’
Benjamin Franklin, scientist, inventor, author and American politician
In a nutshell
The main activities which result in a business tax charge are:
- ■Profits on sales of goods or services and returns from investments
- ■Capital gains from the disposal of assets and investments.
A business is responsible for administering and collecting certain taxes relating to sales and employment. A business must also contribute towards state benefits as an employment tax.
In the UK, HMRC (Her Majesty’s Revenue and Customs) is the appointed tax authority and enforcement agency to which taxes must be paid.
Need to know
This chapter provides a high-level overview ...
Get The Finance Book, 2nd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
