ACCA Foundations in Taxation 2012: version 1: FTX

Synopsis

AAdjusted profit / loss computations for trades and professions 1.Adjustment of trading profits / losses for tax purposes 2.Capital allowances 3.Basis of assessments 4.Relief for losses BNational insurance contributions 1.Class 2 and Class 4 National Insurance Contributions for the self employed 2.Class 1 and 1A National Insurance Contributions for employees and employers CIncome from employment 1.Computing taxable earnings from employment 2.Allowable deductions 3.Benefits 4.Contributions to occupational pension schemes & charitable giving through the payroll DProperty and investment income 1.Profits / losses from property income 2.Other investments EIncome tax computations 1.Computing taxable income 2.Computing income tax payable FChargeable gain computations (individuals and companies) 1.Chargeable persons, disposals and assets 2.Computing gains and losses 3.Share and securities 4.Other areas of capital gains tax (including reliefs) 5.Computing capital gains tax payable GAdministration of income tax and capital gains tax 1.Self-assessment system 2.Payment of income tax (including payments on account) and capital gains tax 3.Enquiries 4. Dealing with the HM Revenue and Customs (HMRC) and client confidentiality. HCorporation tax computations 1.Company taxable total profits 2.Accounting periods 3.Computing corporation tax 4.Relief for losses (trade and non-trade) IAdministration of corporation tax 1.Corporation tax self-assessment 2.The payment of corporation tax (including quarterly payments on account) 3.Dealing with HMRC and client confidentiality JValue added tax (VAT) 1.Scope of VAT 2.Basic principles of VAT 3.VAT invoices and records 4.Registration 5.Administration of VAT