Principles of Tax

This class was created by Brainscape user Grace Overy. Visit their profile to learn more about the creator.

Decks in this class (16)

Introduction to Taxation
What is tax legislation,
When is tax legislation updated,
What is case law
34  cards
Introduction to Income Tax
What are some examples of income ...,
Which types of income are receive...,
How are salaries quoted in the exam
39  cards
Employment Income
What is the employment income wor...,
How is employment income taxed,
What happens if an employer provi...
38  cards
Benefits from employers exempt from income tax
Canteen,
Sports facilities,
Childcare related
15  cards
Trading Profits
What are the steps to tax a sole ...,
How are the profits of an ongoing...,
What do you add within the formul...
42  cards
Capital Allowances
What is wda,
What is aia,
What is fya
17  cards
Basis of Assessment
What is a current year basis,
What are the special opening year...,
What is the actual basis
9  cards
Partnerships
What is a partnership,
What are the two steps you will b...,
What is the basis period for an o...
8  cards
National Insurance Contributions
When can you charge a penalty,
What penalties should you charge,
What do you pay class 1 primary a...
14  cards
Capital Gains Tax
What is cgt,
Who are chargeable persons,
What are chargeable disposals
25  cards
Ethics
What are the five fundamental pri...,
What is meant by integrity,
What is meant by objectivity
35  cards
Corporation Tax - Taxable total profits
When is a company resident in the uk,
What is ttp,
What is the accounting period for...
34  cards
Corporation Tax - Payment and Administration
What are augmented profits,
How do you calculate augmented pr...,
What are exempt abgh distributions
30  cards
VAT
What is vat,
What is a taxable supply,
What is output vat
38  cards
VAT - further aspects
What must a vat invoice include,
When can a trader issue a less de...,
Must you issue vat invoices to no...
32  cards
Summary Notes
What income is exempt from the in...,
What do you deduct from the incom...,
How do you calculate a reduced pe...
30  cards

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Principles of Tax

  • Class purpose General learning

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