TX UK Textbook Syllabus
Chapter 1
Syllabus A. UK Tax System & Administration
A2. Revenue Law
- 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
A4. The Time Limits
All subject exam questionsA5. Checks, appeals and disputes
All subject exam questionsChapter 2
Syllabus B. Income Tax And Nic Liabilities
B2. Income from employment
- 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 accomodation4:44
- B2g. Motor cars, Vans and private fuel benefit
- B2g. Beneficial loan benefit
- B2g. Other benefits
- B2h. RTI reporting
B3. Income from self-employment
- 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
B4. Property and investment income
- 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
B5. The comprehensive computation of taxable income and income tax liability
- 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
B6. National insurance contributions for employed and self-employed persons
All subject exam questionsB7. The use of exemptions and reliefs in deferring and minimising income tax liabilities
All subject exam questionsChapter 3
Syllabus C. Chargable Gains For Individuals
C1. The scope of the taxation of capital gains
All subject exam questionsC2. The basic principles of computing gains and losses
- 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.
C3. Gains and losses on the disposal of movable and immovable property
All subject exam questionsC5. Entrepreneur's relief/Business asset disposal relief
All subject exam questionsC6. The use of exemptions and reliefs to minimise capital gains tax
All subject exam questionsChapter 4
Syllabus D. Inheritance Tax
D1. Basic principles of computing transfers of value
- 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
D2. IHT arising on lifetime transfers and on death
- D2a. Tax implications of lifetime transfers
- D2b. IHT liability on the death estate
- D2c. Transfer of unused NRB between spouses
- D2d. Residence NRB
D3. Exemptions to defer / minimise IHT
All subject exam questionsD4. Payment of inheritance tax
All subject exam questionsChapter 5
Syllabus E. Corporation Tax Liabilities
E1. The scope of corporation tax
All subject exam questionsE2. Taxable total profits
- 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
E3. Chargeable gains for companies
- 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
E4. The comprehensive computation of corporation tax liability
All subject exam questionsE5. Group corporate structure for C.T.
All subject exam questionsChapter 6
Syllabus F. Value Added Tax
F1. The VAT registration requirements
- 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
F2. Computation of VAT liabilities
- 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