Put These Notes into Practice
Reading the notes is a great start. Now practise with unlimited AI-generated questions and get instant feedback. 100,000+ students are already improving their grades.
Advanced Taxation (ATX)
5 sections available · 24 chapters available
Free Advanced Taxation (ATX) study notes for ACCA students. Each chapter below covers a key topic with worked examples and practice prompts you can take into the thinka app.
A. Knowledge and understanding of the UK tax system through the study of more advanced topics within the taxes studied previously and the study of stamp taxes
Income and income tax liabilities in situations involving further overseas aspects and in relation to trusts, and the application of additional exemptions and reliefs
Chargeable gains and capital gains tax liabilities in situations involving further overseas aspects and in relation to closely related persons and trusts together with the application of additional exemptions and reliefs
Inheritance tax in situations involving further aspects of the scope of the tax and the calculation of the liabilities arising, the principles of valuation and the reliefs available, transfers of property to and from trusts, overseas aspects and further aspects of administration
Corporation tax liabilities in situations involving overseas and further group aspects and in relation to special types of company, and the application of additional exemptions and reliefs
Stamp taxes
Value added tax, tax administration and the UK tax system
B. The impact of relevant taxes on various situations and courses of action, including the interaction of taxes
Taxes applicable to a given situation or course of action and their impact
Alternative ways of achieving personal or business outcomes may lead to different tax consequences
Taxation effects of the financial decisions made by businesses (corporate and unincorporated) and by individuals
Tax advantages and/or disadvantages of alternative courses of action
Statutory obligations imposed in a given situation, including any time limits for action and the implications of non-compliance
C. Minimising and/or deferring tax liabilities by the use of standard tax planning measures
Types of investment and other expenditure that will result in a reduction in tax liabilities for an individual and/or a business
Legitimate tax planning measures, by which the tax liabilities arising from a particular situation or course of action can be mitigated
The appropriateness of such investment, expenditure or measures, given a particular taxpayer's circumstances or stated objectives
The mitigation of tax in the manner recommended, by reference to numerical analysis and/or reasoned argument
Ethical and professional issues arising from the giving of tax planning advice
D. Professional skills
E. Employability and technology skills
Use computer technology to efficiently access and manipulate relevant information
Work on relevant response options, using available functions and technology, as would be required in the workplace
Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
Present data and information effectively, using the appropriate tools
Done reading? Test yourself with AI practice questions
Practice This Topic Now