TX ^UK Textbook Syllabus

A1a. Purpose of tax

A1bc. Types Of Tax

A2a. Structure of the UK tax system

A2b. Revenue law

A2d. Tax Avoidance And Tax Evasion

A2ef. UK tax system and other tax jurisdictions

A2g. Ethical and professional approach

A3a. Individuals

A3b. Companies

A4a. Amendments

A4b. Payments of Tax

A4c. Claims

A4d. Retention of business records

A5a/b. Compliance checks and self assessment

A6a. Late payment interest

B1a. The residence of an individual

B2a. The factors - employment or self-employment

B2b. Basis of assessment for employment income

B2c. Income assessable

B2d. Allowable deductions

B2e. The statutory approved mileage allowances

B2f. PAYE system

B2g. Use and gift benefit

B2g. Living accomodation

B2g. Motor cars, Vans and private fuel benefit

B2g. Beneficial loan benefit

B2g. Other benefits

B2h. RTI reporting

B3a. Basis of assessment for self employment income

B3b. Badges of trade

B3c. Allowable expenditure

B3d. Cash basis for small businesses

B3e/E2b. Relief for pre-trading expenditure - Self-employed

B3f. Assessable profits on commencement

B3f. Assessable profits on cessation

B3g. Choice of accounting date

B3h. Capital allowances

B3i. Relief for trading losses

B3j. Partnerships and limited liability partnerships

B4a. Computation of property business profits

B4b. Furnished holiday lettings

B4c. Rent a room relief

B4d. Premiums granted for short leases

B4e. Property income finance costs

B4f. Property business loss relief

B4fg/B5ad. Tax payable on savings and dividend income/Income tax computation/Income tax payable

B4g. Savings income starting rate band

B4hi. Individual Savings Accounts and other tax exempt investments

B5b. Personal allowance

B5c. Transferable Personal Allowance

B5e. Qualifying loans

B5f. Gift aid donations

B5g. Child benefit tax charge

B5h/7b. Jointly owned property by a married couple/civil partners

B6a. NICs

B6a. Class 1 and 1A NIC

B6a. Class 2 and 4 NIC

B6a. The annual employment allowance

B7a. Pensions

B7c. Basic income tax planning

Income tax in the exam

C1a. The scope of capital gains tax

C1b. Assets which are exempt

C2/5a. The treatment of capital gains

C2b. The treatment of capital losses

C2c. Transfers between husband and wife or civil partners

C2d. Allowable expenditure on a part disposal

C2e. Insurance proceeds received for a damaged/lost/destroyed asset.

C3ab. Chattels and wasting assets

C3c. Principal private residence relief

C4a. Gift of quoted shares

C4bc. Identification rules for individuals

C4d. Bonus issues, rights issues, takeovers and reorganisations

C4e. Exemptions available for gilt-edged securities and qualifying corporate bonds

C5b. Entrepreneur's relief / Business asset disposal relief

C5c. Investors’ Relief

C6ai. Rollover relief

C6aii. Holdover relief

C6b. Capital gains tax planning

Capital gains in the exam

D1a. Chargeable persons

D1b. Transfer of value, Chargeable Transfer, Potentially Exempt Transfer

D1c. Diminution in value principle

D1d. 7 year accumulation principle

D1e. Taper Relief

D2a. Tax implications of lifetime transfers

D2b. IHT liability on the death estate

D2c. Transfer of unused NRB between spouses

D2d. Residence NRB

D3a. Exemptions

D3b. Basic IHT planning

D4a. Payment of inheritance tax and the due date

Inheritance tax in the exam

E1ab. Period of account and CAP

E1c. Residency of a company

E2a. Allowable expenditure in calculating T.A.T.P.

B3e/E2b. Relief for pre-trading expenditure - Companies

E2c. Capital allowances

E2d. Property business profits/losses - for Companies

E2ef. Relief for trading losses - for Companies

E2f. Current year relief of trading losses

E2f. Carry back relief of trading losses

E2f. The carry back of a loss - periods of less than 12 months

E2e. Carry forward relief of trading losses

E2f. Terminal loss relief

E2g. Factors that influence choice of loss relief claim

E2h. Loan relationship rules

E2i. Qualifying charitable donations

E2j. Computation of taxable total profits

E3ab. Capital gains computation

E3c. Capital losses

E3de. Disposals of shares by companies, with share identification rules

E3f. Bonus issues, rights issues, takeovers and reorganisations

E2g. Rollover relief

E4a. E4a.Compute the corporation tax liability

E5a. 75% loss group

E5b. 75% gains group

F1a. VAT Registration - Compulsory and Voluntary

F1b. Circumstances for pre-registration VAT can be recovered

F1c. Conditions for companies to be treated as VAT group

F2a. Calculate the amount of VAT payable/recoverable

F2b. Understand how VAT is accounted for and administered

F2c. Recognise the tax point when goods or services are supplied

F2d. Information that must be given on a VAT invoice

F2e. Principles regarding the valuation of supplies

F2f. Principal zero rates and exempt supplies

F2g. Circumstances in which input VAT is non-deductible

F2h. Relief available for impairment losses on trade debts

F2i. Default surcharge and penalty for incorrect VAT return

F2j. Treatment of imports, exports and trade within the EU

VAT exam questions

F3a. Operation of and advantages of VAT special schemes