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Taxation (TX)
7 sections available · 36 chapters available
Free Taxation (TX) 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. The UK tax system and its administration
The overall function and purpose of taxation in a modern economy
Principal sources of revenue law and practice
The systems for self-assessment and the making of returns
The time limits for the submission of information, claims and payment of tax, including payments on account
The procedures relating to compliance checks, appeals and disputes
Penalties for non-compliance
B. Income tax and NIC liabilities
The scope of income tax
Income from employment
Income from self-employment
Property and investment income
The comprehensive computation of taxable income and income tax liability
National insurance contributions for employed and self-employed persons
The use of exemptions and reliefs in deferring and minimising income tax liabilities
C. Chargeable gains for individuals
The scope of the taxation of capital gains
The basic principles of computing gains and losses
Gains and losses on the disposal of movable and immovable property
Gains and losses on the disposal of shares and securities
The computation of capital gains tax
The use of exemptions and reliefs in deferring and minimising tax liabilities arising on the disposal of capital assets
D. Inheritance tax
E. Corporation tax liabilities
F. Value added tax (VAT)
G. 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
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