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Level 42

Start-Up Legal & Tax Issues


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VAT
A tax on the value of sales of a business. Businesses that sell more than a certain amount will register to pay it
Income tax
a tax paid on earnings from wages, interest dividends, and other sources
NIC
A tax on the earnings of workers and sole traders linked to trade benefits
Corporation Tax
A tax paid by limited companies on the profits of the company
Register under a unique name
The legal requirements of a small business