01 - Introduction Flashcards
(4 cards)
1
Q
What is a an unincorporated business?
A
A sole trader or a partnership
2
Q
What types of tax are unincorporated businesses subject to?
A
Income tax, CGT & class 4 national insurance
3
Q
What types of tax and incorporated businesses subject to?
A
Corporation tax (from both trading profits and sale of assets) & Class 1 & 1A national insurance
4
Q
A
