Definition
Council tax is a local tax imposed on residential properties in the United Kingdom (UK) to fund local government services, such as schools, police, fire departments, and waste collection. Council tax rates are based on property valuation bands and vary depending on the local authority's budgetary needs and spending priorities. Council tax is paid by residents and property owners within a designated council area.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.