Taxation is important for all the developing and developed countries. Taxation policies are very important for the growth and development of country .that's why from time to time review of the taxation policies are very important. Taxation in UK may involve payment to a minimum of two different level of government. The central government and the state government and local government. U.K is also having a very strong taxation system. There are number of taxes that are to be paid under the UK taxation system. some of the important among them are personal taxation company taxation, VAT, National insurance contribution etc.
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Business rates is the most commonly used names of non domestic rates, a United Kingdom rate or tax charged to occupiers of non domestic property. The corporate tax is the forth largest source of revenue. National insurance contributions is also having a great importance in generating revenue for the government because it is to be paid by employers, employees and self employed. Capital gains are subject to tax a the 18% or at the applicable marginal rate of corporation tax. Income tax forms the bulk of revenues collected by government. UK source f revenue is subject to UK taxation no mater the citizenship, nor the place of residence f the individual, nor the place of registration of the company. If you want to know more about UK Taxation laws and procedures then 365 companies will help in providing knowledge and solving your queries.
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