Other taxation

In business, there are additional taxes and rates that apply.

For example, corporation tax is a tax that limited companies pay on their profits.

Also, business rates is a property tax that is paid to local councils by businesses that are using or occupying non domestic properties.

Handy hint!

All of the information on National Insurance and VAT in this Session is up to date as of September 2016. However, guidelines relating to taxation can often change, so it’s important to make sure that you have the most up to date information! Before you complete your Assessment, it’s really important that you do your own research about National Insurance and VAT. Take a look at the following websites for more information about National Insurance, VAT and paying National Insurance and VAT as a business.