Which one of the following might a sole trader pay on their profits?
Select one answer:
A Corporation Tax
B National Insurance
C Income Tax
D Import Duty - Edexcel - GCSE Business - Question 2 - 2015 - Paper 1
Question 2
Which one of the following might a sole trader pay on their profits?
Select one answer:
A Corporation Tax
B National Insurance
C Income Tax
D Import Duty
Worked Solution & Example Answer:Which one of the following might a sole trader pay on their profits?
Select one answer:
A Corporation Tax
B National Insurance
C Income Tax
D Import Duty - Edexcel - GCSE Business - Question 2 - 2015 - Paper 1
Step 1
Select one answer:
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Answer
A sole trader might pay Income Tax on their profits. This is because sole traders are considered self-employed individuals, and the profits they make from their business are typically subject to personal income tax according to the individual's tax bracket.
