| Commentary

17 Overview

| Commentary

2: TAXATION OF THE BUSINESS

(a) Introduction to taxation of the business

17 Overview1

A sole trader or a partner will be subject to taxation in respect of both the income and capital profits of the business (or in the case of a partner, in respect of his share of those profits). In relation to income profits the charge will be to income tax, mainly under

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial