FTX Textbook Syllabus
Chapter 1
Syllabus A. Introduction To The Uk Tax System
A1. Principal sources of revenue law and practice
A2. Different types of taxes
All subject exam questionsChapter 2
Syllabus B. Adjusted Profit / Loss Computations
B1. Adjustment of trading profits / losses for tax purposes
- B1a. Basis of assessment for self employment income
- B1b. Allowable expenditure
- B1c. Relief for pre-trading expenditure
B2. Capital allowances
All subject exam questionsB3. Basis of assessments
- B3a. The basis of assessment for a continuing sole trader
- B3b. Assessable profits on commencement
- B3bc. Assessable profits on cessation
B5. Partnerships
B6. National insurance contributions for self-employed
All subject exam questionsB7. Prepare relevant pages of a tax return
Chapter 3
Syllabus C. Income Tax Liabilities
C1. Introduction to personal taxation
- C1a. Tax year
- C1b. Scope of income tax
- C1c. Sources of taxation information for individuals
- C1d. Income and capital profits/losses
- C1e. Elements of a personal income tax computation
C2. Income from employment and Class 1 NIC
- C2a. Income assessable
- C2b. Basis of assessment for employment income
- C2cf. Allowable deductions
- C2d. P11D employees
- C2e. The statutory approved mileage allowances
- C2e. Use and gift benefit
- C2e. Living accomodation
- C2e. Motor cars, Vans and private fuel benefit
- C2e. C2e Beneficial loan benefit
- C2e. Other benefits
- C2g. Source documents required to complete tax returns
- C2g. Source documents - expenses
- C2h. Class 1 and 1A NIC
- C2h. NIC - Weekly/monthly computations
- C2i. The annual employment allowance
C3. Income from property, savings and investments
- C3b. Computation of property business profits
- C3a. Premiums granted for short leases
- C3ad. Furnished holiday lettings
- C3c. Rent a room relief
- C3e. Property business loss relief
- C3f. Individual Savings Accounts and other tax exempt investments
- C3g. Source documents used to complete the tax return.
C4. The comprehensive computation of taxable income and income t
- C4a. Personal allowance
- C4b. Qualifying loans
- C4cdf. Tax payable on savings and dividend income/Income tax computation/Income tax payable
- C4e. Payroll giving
- C4e. Gift aid donations
C5. The use of pension contributions
C6. Income tax administration
- C6a. C6a.The features of self- assessment for Individuals
- C6b. Disclosure of income and payment of tax
- C6c. Duties and responsibilities of a tax practitioner
- C6dg. C6dg.Timings for Payments of Tax
- C6e. C6e Retention of business records
- C6f. PAYE forms and deadlines
- C6h. Calculate late payment interest and state the penalties that can be charged.
Chapter 4
Syllabus D. Capital Gains Tax
D1. The scope of the taxation of capital gains
D2. The basic principles of computing gains and losses
- D2. The treatment of capital gains
- D2b. Market value and the transfer value
- D2c. Gift of quoted shares
- D2e. The treatment of capital losses
- D2f/4c. Allowable expenditure on a part disposal
D4. Gains and losses on the disposal of movable and immovable pr
- D4ab. Chattels and wasting assets
- D4d. Insurance proceeds received for a damaged/lost/destroyed asset.
D5. The completion of the self assessment tax return
All subject exam questionsD6. The use of exemptions and reliefs in deferring and minimisin
- D6a. Principal private residence relief
- D6b. Holdover relief
- D6c. Rollover relief
- D6d. Entrepreneur's relief / Business asset disposal relief
Chapter 5
Syllabus E. Corporation Tax Liabilities
E1. The scope of corporation tax
E2. Taxable total profits
- E2a. Allowable expenditure in calculating T.A.T.P.
- E2b. Relief for pre-trading expenditure
- E2c. Capital allowances
- E2d. Property business profits/losses - for Companies
- E2e. Loan relationship rules
- E2f. Qualifying charitable donations
- E2g. Computation of taxable total profits
E3. The comprehensive computation of CTL
All subject exam questionsE4. Chargeable gains for companies
- E4ab. Capital gains computation
- E4c. Capital losses
- E4de. Disposals of shares by companies, with share identification rules
- E4f. Rollover relief
E5. Relief for losses
- E5a. Loss reliefs - trade and non trade losses
- E5abc. Carry forward relief of trading losses
- E5bc. Total income relief for trading losses
- E5bc. Terminal loss relief
E6. The use of exemptions and reliefs
E8. Corporation tax administrsation
- E8a. The features of self- assessment system for companies
- E8b. Calculate late payment interest and state the penalties that can be charged.
- E8c. Compliance checks and self assessment
- E8de. E8de.Timings for Claims
- E8f. Retention of business records
Chapter 6
Syllabus F. Value Added Tax
F1. The scope of value added tax (VAT)
F2. The VAT registration requirements
F3. The basic principles of VAT
All subject exam questionsF4. VAT invoices and records
F5. Administration of VAT
F6. The effect of special schemes
All subject exam questionsF7. Preparing and completing VAT returns
- F7a. Calculate the amount of VAT payable/recoverable
- F7a. Relief available for impairment losses on trade debts
- F7a. VAT and discounts
- F7a. Circumstances in which input VAT is non-deductible
- F7c. Understand how VAT is accounted for and administered
- F7c. Tax point
- F7c. VAT return