How tax affects business - NCFE BUSINESS

What is VAT charged on ?

• Income

• Goods and services

• movies

• All of the above

What is the personal allowance amount in UK ?

• £10,000

• £16,750

• £15,000

• £12,570

If income tax increases , people will have

• same amount of money left

• more money left

• less money left

• None of the above

If income tax decreases , business will be affected by

• people will have no money which means they will spend no money at businesses

• people will have more money which means they will spend less money at businesses

• people will have less money which means they will spend more money at businesses

• People will have more money which means they will spend more money at businesses

Cooperation tax is paid on .......

• profits

• costs

• loss

• revenue

Tax is a charged by the .......

• Businesses

• Government

• Customers

• Suppliers

Percentage of VAT in UK ?

• 10%

• 20%

• 30%

• 40%

Do you have to pay tax on all the income you earn ?

• yes

• no

If cooperation tax increases

• Businesses will have reduced tax

• Businesses will have increased revenue

• Business will have increased profit

• Business will have reduced profit

Trying to avoid tax or not paying your tax is

• Legal

• illegal