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Paul is a British citizen and lives in the UK where he has his only...

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Accounting

Paul is a British citizen and lives in the UK where he has his only house. He iscontemplating starting a retail clothing business. He has appointed you as his taxrepresentative. As a first assignment, you have been asked to explain to him theprinciples governing the taxation of individuals in the UK.In the light of the above statement, write a report to Paul and critically discuss the taximplications

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