1. VAT: In Britain, any enterprise or individual must pay VAT. If the annual income of an enterprise exceeds 60,000 pounds, the enterprise needs to apply for a VAT number.
2. Income tax: the company needs to pay income tax when its annual profit reaches more than 60,000 pounds, with the lowest income tax rate of 15% and the highest of 30%. This still applies to individuals.
Because the tax payment of British companies involves more than two kinds of taxes, it is necessary to have a suitable accountant or tax agent to declare the tax. Therefore, it is necessary to make detailed tax planning in the selection and reduce tax expenditure to a certain extent.