TX ^UKTextbook Syllabus

Taxation

Revenue Law

Self-assessment

The Time Limits

Checks, appeals and disputes

Penalties for non-compliance

The scope of income tax

Income from employment

Income from self-employment

Property and investment income

The comprehensive computation of taxable income and income tax liability

National insurance contributions for employed and self-employed persons

The use of exemptions and reliefs in deferring and minimising income tax liabilities

B: In the exam

The scope of the taxation of capital gains

The basic principles of computing gains and losses

Gains and losses on the disposal of movable and immovable property

Gains and losses on the disposal of shares and securities

Entrepreneur's relief/Business asset disposal relief

The use of exemptions and reliefs to minimise capital gains tax

C: In the exam

Basic principles of computing transfers of value

IHT arising on lifetime transfers and on death

Exemptions to defer / minimise IHT

Payment of inheritance tax

D: In the exam

The scope of corporation tax

Taxable total profits

Chargeable gains for companies

The comprehensive computation of corporation tax liability

Group corporate structure for C.T.

The VAT registration requirements

Computation of VAT liabilities

The effect of special schemes