BSG 1.4.3 Start-up legal and tax issues

Learning question(s)
  • Why is it important for a business to have a unique trading and business name name?
  • Why is it important for a business to keep careful records for VAT, income tax, National Insurance and Corporation Tax?
 Mins Activities Teacher Notes Resources
 1: Carry out tasks on projector screen.  Welcome
 2: Make notes about the importance of having a unique business name and keeping financial records, using the notes web,Notes web answersVideo: The importance of keeping financial records 

Notes web
 3: Test each other to how many web connections you can remember.   
 4: Revise the connections for a text at the start of next lesson.  
 5: Extension 1: Think of a new business name and find out if it is already registered at Companies House  Companies House name search

Rules for business names
 6: Extension 2: 
What is the standard rate of VAT?
Is VAT payed on all goods and services?
Do all businesses have to pay VAT?

 
 7: Check your understanding of this topic by drawing the connections on the web again. NB some of the statements have been moved!  Test web
 8: Mark your work from the slideshow on the projector.     Answers PW protected. Answers
  Review lesson