BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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additional tax when selling second homes or buy-to-let properties
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a tax on earnings and self-employed profits
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a tax levied directly on personal income
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a tax set by local authorities to meet their budget requirement
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Detailed explanation-1: -Council tax-This is a local charge (or charges) set by the billing authority in order to collect sufficient revenue to meet their demand on the collection fund and the precepts issued by the precepting authorities.
Detailed explanation-2: -Council Tax is an annual fee your local council charges you for the services it provides, like rubbish collection and libraries. Normally you pay it in 10 monthly instalments, followed by two months of not making any payments. How much Council Tax you pay depends on: your personal circumstances.
Detailed explanation-3: -What does Council Tax pay for? The money is used to pay for many of our local services – from schools, bin collections and street repairs to libraries, parks and leisure facilities. A proportion also goes towards our local police, fire and rescue services.
Detailed explanation-4: -Your local authority (council) sets rates and collects Council Tax payments. You can find out the Council Tax rates set by your local authority. It’s possible to pay your Council Tax online.
Detailed explanation-5: -You’ll usually have to pay Council Tax if you’re 18 or over. A full Council Tax bill is based on at least 2 adults living in a home. Spouses and partners who live together are jointly responsible for paying the bill.