TX UK Textbook Syllabus
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B1The scope of income tax
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B2Income from employment
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B3Income from self-employment
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B4Property and investment income
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B5The comprehensive computation of taxable income and income tax liability
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B6National insurance contributions for employed and self-employed persons
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B7The use of exemptions and reliefs in deferring and minimising income tax liabilities
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B: In the exam
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C1The scope of the taxation of capital gains
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C2The basic principles of computing gains and losses
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C3Gains and losses on the disposal of movable and immovable property
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C4Gains and losses on the disposal of shares and securities
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C5Entrepreneur's relief/Business asset disposal relief
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C6The use of exemptions and reliefs to minimise capital gains tax
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C: In the exam
Syllabus A
UK Tax System & Administration
A2
Revenue Law
Structure of the UK tax system
Revenue law
Tax Avoidance And Tax Evasion
UK tax system and other tax jurisdictions
Ethical and professional approach
A4
The Time Limits
Amendments
Payments of Tax
Claims
Retention of business records
A6
Penalties for non-compliance
Late payment interest
Late filing of returns
Syllabus B
Income Tax And Nic Liabilities
B2
Income from employment
The factors - employment or self-employment
Basis of assessment for employment income
Income assessable
Allowable deductions
The statutory approved mileage allowances
PAYE system
Use and gift benefit
Living accomodation
5:15
Motor cars, Vans and private fuel benefit
Beneficial loan benefit
Other benefits
RTI reporting
B3
Income from self-employment
Basis of assessment for self employment income
Badges of trade
Allowable expenditure
Cash basis
Relief for pre-trading expenditure - Self-employed
Capital allowances
Relief for trading losses
Partnerships and limited liability partnerships
B4
Property and investment income
Computation of property business profits
Furnished holiday lettings
Rent a room relief
Premiums granted for short leases
Property income finance costs
Property business loss relief
Tax payable on savings and dividend income/Income tax computation/Income tax payable
Savings income starting rate band
Individual Savings Accounts and other tax exempt investments
B5
The comprehensive computation of taxable income and income tax liability
Personal allowance
Transferable Personal Allowance
Qualifying loans
Gift aid donations
Child benefit tax charge
Jointly owned property by a married couple/civil partners
B6
National insurance contributions for employed and self-employed persons
NICs
Class 1 and 1A NIC
Class 4 NIC
The annual employment allowance
B7
The use of exemptions and reliefs in deferring and minimising income tax liabilities
Pensions
Basic income tax planning
Syllabus C
Chargable Gains For Individuals
C1
The scope of the taxation of capital gains
The scope of capital gains tax
Assets which are exempt
C2
The basic principles of computing gains and losses
The treatment of capital gains
The treatment of capital losses
Transfers between husband and wife or civil partners
Allowable expenditure on a part disposal
Insurance proceeds received for a damaged/lost/destroyed asset.
C3
Gains and losses on the disposal of movable and immovable property
Chattels and wasting assets
Principal private residence relief
C5
Entrepreneur's relief/Business asset disposal relief
Entrepreneur's relief / Business asset disposal relief
Investors’ Relief
C6
The use of exemptions and reliefs to minimise capital gains tax
Rollover relief
Holdover relief
Capital gains tax planning
Syllabus D
Inheritance Tax
D1
Basic principles of computing transfers of value
Chargeable persons
Transfer of value, Chargeable Transfer, Potentially Exempt Transfer
Diminution in value principle
7 year accumulation principle
Taper Relief
D2
IHT arising on lifetime transfers and on death
Tax implications of lifetime transfers
IHT liability on the death estate
Transfer of unused NRB between spouses
Residence NRB
D4
Payment of inheritance tax
Payment of inheritance tax and the due date
Syllabus E
Corporation Tax Liabilities
E1
The scope of corporation tax
Period of account and CAP
Residency of a company
E2
Taxable total profits
Allowable expenditure in calculating T.A.T.P.
Relief for pre-trading expenditure - Companies
Capital allowances
Property business profits/losses - for Companies
Relief for trading losses - for Companies
Current year relief of trading losses
Carry back relief of trading losses
The carry back of a loss - periods of less than 12 months
Carry forward relief of trading losses
Terminal loss relief
Factors that influence choice of loss relief claim
Loan relationship rules
Qualifying charitable donations
Computation of taxable total profits
E3
Chargeable gains for companies
Capital gains computation
Capital losses
Disposals of shares by companies, with share identification rules
Bonus issues, rights issues, takeovers and reorganisations
Rollover relief
E4
The comprehensive computation of corporation tax liability
E4a.Compute the corporation tax liability
Syllabus F
Value Added Tax
F1
The VAT registration requirements
VAT Registration - Compulsory and Voluntary
Circumstances for pre-registration VAT can be recovered
Conditions for companies to be treated as VAT group
F2
Computation of VAT liabilities
Calculate the amount of VAT payable/recoverable
Understand how VAT is accounted for and administered
Recognise the tax point when goods or services are supplied
Information that must be given on a VAT invoice
Principles regarding the valuation of supplies
Principal zero rates and exempt supplies
Circumstances in which input VAT is non-deductible
Relief available for impairment losses on trade debts
Penalties and interest for late filing and late payment
Treatment of imports and exports
VAT exam questions
F3
The effect of special schemes
Operation of and advantages of VAT special schemes