StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Personal & Business Taxation - PowerPoint Presentation Example

Cite this document
Summary
They create larger numbers of job opportunities, bring innovation and thus contribute much to the economic development. Though small businesses are found imperative…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.9% of users find it useful
Personal & Business Taxation
Read Text Preview

Extract of sample "Personal & Business Taxation"

Download file to see previous pages

Basically, there are domains for the taxation in UK, they are personal taxation and company taxation. Personal taxation is required for a UK resident who spent 183 days in UK during a tax year and he earned a net income which is taxable according to the law in place in the taxable year. Company or business taxation is applicable if the company situates in the UK and it is payable as given below Though this is the general tax rate for a company, UK tax law has given a tax-rate relief for small businesses in order to encourage entrepreneurship and enhance job creation as well as small-business innovation.

Removing tax barriers and thus to ensure small business growth was one of the main aims for this tax relief (Freedman, 2003, p. 22). But this has been widely questioned whether this tax relief make any contribution to economic growth or whether this targeting is achieved. In UK, the small business rate relief is normally administered by the concerned local authority. A business man, no matter whether it is sole proprietorship or partnership or other form of business, will be eligible for tax relief if his taxable value is below £18,000 (but £25,500 in London).

If the rateable value of a small business is just £6,000 or lower, the small business rate multiplier will be used along with a 50 percent relief. If the rateable value is between £6,001 to £11,999, the small business rate multiplier will be used and the rate relief will be between 0 to 50 percent. If the rateable amount is above £12,000 and less than £18,000, there won’t be any relief, but only small business rate multiplier will be used (Business Link,

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Personal & Business Taxation PowerPoint Presentation”, n.d.)
Personal & Business Taxation PowerPoint Presentation. Retrieved from https://studentshare.org/finance-accounting/1588778-personal-business-taxation
(Personal & Business Taxation PowerPoint Presentation)
Personal & Business Taxation PowerPoint Presentation. https://studentshare.org/finance-accounting/1588778-personal-business-taxation.
“Personal & Business Taxation PowerPoint Presentation”, n.d. https://studentshare.org/finance-accounting/1588778-personal-business-taxation.
  • Cited: 0 times

CHECK THESE SAMPLES OF Personal & Business Taxation

Business Taxation: Zing Zang Zong Case Study

business taxation: Zing Zang Zong Case Study Institution Date Introduction Ben Stone operates an incorporated business, Zing Zang Zong in providing website design consultancy services.... The following is a report that evaluates various aspects of taxation as corresponds to Zing Zang Zong's business operations.... For instance, the report examines the implications of the two alternative business structures that is, non-incorporated and incorporated in respect to taxation....
9 Pages (2250 words) Essay

United States Federal Tax Law

Since they maintained personal liability for the $ 750,000 of the remaining debt, then they were liable to cancellation.... Kathy and Frank made a $400,000 down payment and took out a $2,600,000 mortgage to finance the remaining cost of the house with Outside Lender.... Kathy and Frank are personally liable for the mortgage loan, which is secured by the home....
8 Pages (2000 words) Assignment

Australian Taxation system

Research done in several Australian newspapers has testified that taxation is the backbone of the Australian economy.... … Australian taxation system.... Research done in several Australian newspapers has testified that taxation is the backbone of the Australian economy.... There are also state governments which control taxation taking place in the several states that are in the country.... According to Macfarlane in his book “Australian Monetary Policy in the Last Quarter of the Twentieth Century”, it is evident that Australia has low taxation rates (Macfarlane 1998)....
6 Pages (1500 words) Essay

International Taxation - Foreign Persons Trade/ Business and U.S. - Sourced Income

International taxation - Foreign Persons Trade / Business and U.... .... - Sourced Income Introduction Investments in the start-up companies as well as exiting leading multinational companies in US are attractive to the foreign investors due to the favourable political, social and economic policies of the government....
4 Pages (1000 words) Research Paper

Partnership vs.Corporation (Taxation)

Corporation (taxation) Name Institution Partnership vs.... Corporation (taxation) 1.... The major disadvantage of a corporation is the double taxation that is levied upon the firm/corporation (Piper, 2008).... The taxation is levied at the corporation level and the individual earnings are taxed.... Every business seeks to minimize losses and maximize profits.... This also depends on the business model that a company chooses to register for....
5 Pages (1250 words) Assignment

Corporate Taxation in Germany and England

Reduced numbers can mean more foreign investment in the country and a highly competitive business sector and that is exactly what Germany and England had sought out to accomplish.... Corporation taxes are sometimes misunderstood because of their complexity and continuous scrutiny under the law....
17 Pages (4250 words) Essay

How to Plan a Budget

This cannot be achieved by simply reducing expenses and increasing taxation.... From the facts it is clear that the expenditure of the government is high.... It is also clear that is a low revenue growth.... The expenditure of… This creates a budgetary deficit in the economy. ...
5 Pages (1250 words) Case Study

Reflections on the ICT Solution

This proposal has been prepared to recommend the accounting and taxation firm to employ ICT solutions for quick performance and reliability.... The solutions presented by our group have been established based on definitive accounting and taxation businesses.... The solutions are distinctive and tailored for taxation and accounting firm.... The work of calculations found in many taxation firms can be made easier by use of this technology for example use of spreadsheets that is instant....
5 Pages (1250 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us