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Advanced Taxation (ATX)
4 sections available · 20 chapters available
Free Advanced Taxation (ATX) revision notes for ACCA students. Each chapter covers a key topic with worked examples and practice prompts you can take straight into the thinka app.
A. Advanced topics in the UK taxes and stamp taxes
Income tax: overseas aspects, trusts, and further exemptions and reliefs
Chargeable gains and capital gains tax: overseas aspects, connected persons, trusts and reliefs
Inheritance tax: scope, valuation, reliefs, trusts, overseas aspects and administration
Corporation tax: overseas and group aspects, special types of company, exemptions and reliefs
Stamp taxes: stamp duty, stamp duty reserve tax and stamp duty land tax
Value added tax, tax administration and the UK tax system
B. The impact and interaction of relevant taxes
Taxes applicable to a given situation or course of action and their impact
Alternative ways of achieving an outcome and their differing tax consequences
Taxation effects of financial decisions: finance, investment products, leasing and cash flows
Tax advantages and disadvantages of alternative courses of action
Statutory obligations, time limits and the implications of non-compliance
C. Minimising and deferring tax by standard tax planning measures
Investment and expenditure that reduces tax liabilities for individuals and businesses
Legitimate tax planning measures to mitigate liabilities
Appropriateness of measures for a taxpayer's circumstances and objectives
Supporting recommendations with numerical analysis and reasoned argument
Ethical and professional issues in giving tax planning advice
D. Professional skills
Communication: advising the intended audience in a suitable format
Analysis and evaluation
Scepticism: questioning assumptions and stating limitations
Commercial acumen
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