This class was created by Brainscape user Grace Kunzler. Visit their profile to learn more about the creator.
By:
Grace Kunzler
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Decks in this class (18)
IHT
Define transfer of value,
Define diminution in value,
Define a discretionary trust
28
cards
Death Estate and valuation
Does death estate include anythin...,
Who pays tax on the death estate,
Exempt
34
cards
Income Tax
Personal representative,
Chargeable exemptemployment income,
Chargeable exempttrading income
47
cards
Property Income
Property allowance,
Cash basis default for companies ...,
If property receipts are 150 000 use
20
cards
Pensions
Occupational pension scheme,
Earnings related occupational pen...,
Investment related occupational p...
21
cards
Employment Income
General earnings are taxed on,
General earnings of money are tre...,
If recipient director general ear...
69
cards
Trading Income
Profit seeking motive,
Badges of trade number of transac...,
Badges of trade nature of the asset
56
cards
Capital Allowances
Assets are considered to be plant...,
Classified as plant moveable offi...,
Classified as plant free standing...
70
cards
Unincorporated trader losses
When does a trading loss arise,
Main consequences of trading loss,
If trading loss arises in period ...
23
cards
Partnerships
Notional loss,
Notional profit,
Limited liability partnership def...
5
cards
Cash basis of accounting
Which business can use cash basis,
When must a trader leave cash basis,
When can a trader leave cash basis
33
cards
CGT
Chargeable person not individuals,
Chargeable person not business pa...,
Chargeable person not trustees
51
cards
CGT reliefs
Rollover relief,
Qualifying business assets land a...,
Qualifying business assetsfixed p...
41
cards
Overseas aspects of IT and CGT
Residence definition,
A person retains their acquired d...,
Person can be deemed domicile if ...
30
cards
Question Practice
Vat on services incurred before r...,
Vat on goods can be recovered on ...,
Is vat on entertaining suppliers ...
51
cards
VAT
Define exempt supplies,
Can a person making only exempt s...,
Taxable supply definition
51
cards
Important allow/disallow etc
Exempt taxable incomeinterest on ...,
Exempt taxable incomeincome from isa,
Exempt taxable incomebetting lott...
173
cards
Cash / accruals basis
Cash basis what to do with capita...,
Cash basis can fix rate expenses ...,
Cash basis what is the maximum de...
8
cards
More about
TC
- Class purpose General learning
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