Definition
Road tax, also known as vehicle excise duty (VED) or car tax, is a tax imposed on motor vehicles for using public roads or highways. Road tax rates may vary depending on factors such as vehicle type, fuel type, engine size, and emissions level. Road tax revenue is used to fund road maintenance, infrastructure projects, and transportation-related initiatives.
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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.