FTX Textbook Syllabus
Search- D1The scope of the taxation of capital gains
- D2The basic principles of computing gains and losses
- D3Gains and losses on the disposal of shares and securities
- D4Gains and losses on the disposal of movable and immovable pr
- D5The completion of the self assessment tax return
- D6The use of exemptions and reliefs in deferring and minimisin
- D: In the exam
Syllabus A
Introduction To The Uk Tax System
A1Principal sources of revenue law and practice
The overall structure of the UK tax system
The sources of UK tax legislation
Compliance checks and self assessment
The system of income tax and its background
Syllabus B
Adjusted Profit / Loss Computations
B1Adjustment of trading profits / losses for tax purposes
Basis of assessment for self employment income
Allowable expenditure
Relief for pre-trading expenditure
B2Capital allowances
Capital allowances
CA on commencement and cessation - summary
B3Basis of assessments
Basis of assessment
B5Partnerships
Partnerships and limited liability partnerships
B7Prepare relevant pages of a tax return
Self-employed supplementary pages
Partnership supplementary pages
Syllabus C
Income Tax Liabilities
C1Introduction to personal taxation
Tax year
Scope of income tax
Sources of taxation information for individuals
Income and capital profits/losses
Elements of a personal income tax computation
C2Income from employment and Class 1 NIC
Income assessable
Basis of assessment for employment income
Allowable deductions
P11D employees
The statutory approved mileage allowances
Use and gift benefit
Living accomodation
Motor cars, Vans and private fuel benefit
C2e Beneficial loan benefit
Other benefits
Source documents required to complete tax returns
Source documents - expenses
Class 1 and 1A NIC
NIC - Weekly/monthly computations
The annual employment allowance
C3Income from property, savings and investments
Computation of property business profits
Premiums granted for short leases
Furnished holiday lettings
Rent a room relief
Property business loss relief
Individual Savings Accounts and other tax exempt investments
Source documents used to complete the tax return.
C4The comprehensive computation of taxable income and income t
Personal allowance
Qualifying loans
Tax payable on savings and dividend income/Income tax computation/Income tax payable
Payroll giving
Gift aid donations
C5The use of pension contributions
Pensions
Employer contributions
C6Income tax administration
C6a.The features of self- assessment for Individuals
Disclosure of income and payment of tax
Duties and responsibilities of a tax practitioner
C6dg.Timings for Payments of Tax
C6e Retention of business records
PAYE forms and deadlines
Calculate late payment interest and state the penalties that can be charged.
Syllabus D
Capital Gains Tax
D1The scope of the taxation of capital gains
The scope of capital gains tax
Assets which are exempt
Administrative framework for CGT
D2The basic principles of computing gains and losses
The treatment of capital gains
Market value and the transfer value
Gift of quoted shares
The treatment of capital losses
Allowable expenditure on a part disposal
D4Gains and losses on the disposal of movable and immovable pr
Chattels and wasting assets
Insurance proceeds received for a damaged/lost/destroyed asset.
D6The use of exemptions and reliefs in deferring and minimisin
Principal private residence relief
Holdover relief
Rollover relief
Entrepreneur's relief / Business asset disposal relief
Syllabus E
Corporation Tax Liabilities
E1The scope of corporation tax
Scope of corporation tax
Period of account and CAP
E2Taxable total profits
Allowable expenditure in calculating T.A.T.P.
Relief for pre-trading expenditure
Capital allowances
Property business profits/losses - for Companies
Loan relationship rules
Qualifying charitable donations
Computation of taxable total profits
E3The comprehensive computation of CTL
E3b.Compute the corporation tax liability
E4Chargeable gains for companies
Capital gains computation
Capital losses
Disposals of shares by companies, with share identification rules
Rollover relief
E5Relief for losses
Loss reliefs - trade and non trade losses
Carry forward relief of trading losses
Total income relief for trading losses
Terminal loss relief
E6The use of exemptions and reliefs
Factors that influence choice of loss relief claim
Syllabus F
Value Added Tax
F1The scope of value added tax (VAT)
Source of information on VAT
Relationship between the organisation and HRMC
F2The VAT registration requirements
VAT Registration - Compulsory and Voluntary
F4VAT invoices and records
Information that must be given on a VAT invoice
F5Administration of VAT
Default surcharge and penalty for incorrect VAT return
F6The effect of special schemes
Operation of and advantages of VAT special schemes
F7Preparing and completing VAT returns
Calculate the amount of VAT payable/recoverable
Relief available for impairment losses on trade debts
VAT and discounts
Circumstances in which input VAT is non-deductible
Understand how VAT is accounted for and administered
Tax point
VAT return
F8Communicate VAT information
VAT information