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Businesses and taxation Introduction Setting up and running a business can be a daunting prospect. There are many decisions to be made e.g. what goods and/or services to produce, where to set up, how to advertise, what prices to charge, how to raise finance. There is also important paperwork to master and maintain. Fortunately, new business owners are not left to do all this alone. Several bodies can provide helpful support and guidance. This Case Study shows how the Inland Revenue/Customs & Excise help businesses in understanding and receiving what they are entitled to, together with understanding and paying what they owe. Businesses make key contributions to the economy through the products they supply and the taxes they pay. Tax revenues paid by businesses, as well as the personal taxes we all pay, help to fund the economy's public sector. These revenues help to pay for essential services from which we...

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