Running a business: tax obligations
Type: Theory Start taskRead more
Questions: 7
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
Task C3.1 Hiring employees
Type: Mixed Start taskRead more
Questions: 1
Attempts allowed: Unlimited
Available: Always
Pass rate: 75%
Passed:
  • Fact 13

    During World War I, many taxpayers felt that it was their patriotic duty to pay more than their assessed tax. Some were not legally obliged to pay tax but did so and others made payments of double, treble or quadruple the assessed amounts.

Trust

A trust exists when a person or company (called a 'trustee') holds assets on behalf of others who are intended to benefit from the assets, or income from those assets. Those intended to benefit are called 'beneficiaries'.

read more glossary terms