A UK tax on business premises levied to finance local authorities, now set at a national level known as the Uniform Business Rate. The valuation of premises for rating purposes is determined by a District Valuer.
Corporation Tax is a tax charged on the total profits of a company resident in the UK arising in each accounting period. The rate of corporation tax depends on the level of profits of the company.
Input VAT refers to the Value Added Tax that businesses pay on their purchases, which can be reclaimed or offset against their output VAT.
Understanding loss carryforward, a tax strategy that allows businesses to offset current year's net operating loss against future years' net incomes, when loss carryback is not fully possible.
An in-depth exploration of franchise tax, including its definition, applicable rates, possible exemptions, and practical examples.
A comprehensive guide to understanding income tax, its calculation methods, and the different types that apply to businesses and individuals.
