8 What you have learned in this section

• Small business owners have legal and financial responsibilities.
• The responsibilities vary with the business structure used within the business.
• VAT is complicated and its application depends on the turnover of the business.
• Getting professional help on VAT is worth considering.
• The way you get money out of a business is dependent on the business structure chosen.
• There are options on how a business should operate, the best options vary business to business.