Exam Unit: Taxation (2.4)

Learning Outcome

The Learner will be able to demonstrate knowledge of the principles of the various taxes and be able to apply such knowledge to practical situations involving the minimisation of actual and potential tax liabilities of individuals and corporate bodies.

Corporate Business:
1. Scope of corporation tax
2. Residence
3. Profits chargeable to corporation tax
4. Chargeable gains
5. Calculation of the corporation tax liability
6. Overseas aspects
7. Group companies
8. Self assessment system
9. Sales tax (VAT)Unincorporated Business:
1. Basic income tax computation
2. Self assessment system
3. Schedule D
4. Capital gains tax
5. Sales tax (VAT)
6. National Insurance
1. Employment income
2. Occupational pension schemes
3. National InsuranceTax Planning:
1. Employment v self-employment
2. Remuneration
3. Business medium
4. Incorporation of a business
5. Disposal of a business
6. Directors and shareholders