Dear Mr Moffatt
I would like to learn about how small businesses are taxed in UK. Let’s say you are a barber and you run your own business. What legal acts specify how barbers are taxed in UK ? Let’s say you are a tailor and you make clothes for people and you sell those clothes to customers. What legal acts specify how you should tax your business as a taylor ? I would like to start learning about taxation from learning how small businesses calculate their taxes. Can you tell me what legal acts I should get familiar with ?
Tax is not examinable in Paper FA.
The UK tax rules for businesses are explained in the free lectures for Paper TX.
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