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Principles of Taxation ACA

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

By: molly Burns
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Decks in this class (11)

2 - introduction to taxation
What are direct taxes,
What is an example of a direct tax,
What are indirect taxes
19  cards
3 - introduction to income tax
What are two examples of exempt i...,
How much is the personal allowance,
What is the adjustement to pa aft...
13  cards
4 - employment income
What is the receipts basis when r...,
What are the three conditions for...,
How do you calculate basic rental...
24  cards
5 - trading profits
What are the badges of trade,
Explain what the profit seeking m...,
Explain what the number of transa...
26  cards
6 - capital allowances
What happens to capital allowance...,
Do you have to claim the whole ca...,
What are the two rules regarding ...
28  cards
7 - trading profits (basis of assessment)
What is the cyb,
Who does the cyb apply to,
How does the actual basis work
7  cards
8 - national insurance contributions
What are class 1 nics,
Who pays class 1a nics,
Who pays class 2 nics
22  cards
9 - capital gains tax (individuals)
What needs to be satisfied for a ...,
What is an example of an exempt d...,
What is the main exemption for as...
25  cards
10 - corporation tax
When are the two times an account...,
An accounting period ends on the ...,
What happens if a company has a p...
29  cards
11 - value added tax
What is output and input vat char...,
What are two examples of no vat t...,
What are three examples of exempt...
32  cards
13 - administration of tax
What is the common penalty regime...,
What is plr,
What is the penalty for a careles...
6  cards

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Principles of Taxation ACA

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