Business Taxation Principles and Calculations

Distinguish between direct and indirect taxes, describing their economic effects.

Calculate corporate tax liability given taxable profits, capital allowances, and loss relief.

Calculate income tax for an individual applying personal allowances and tax bands.

Calculate capital gains tax on the disposal of assets, including indexation allowance.

Calculate value-added tax (VAT) liability for a business and determine the net impact on cash flows.

Demonstrate through calculation how the tax-deductibility of interest payments influences corporate financing decisions.