ΠΕΡΙΓΡΑΦΗ

This subject helps you develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.

The syllabus for Taxation – United Kingdom (TX-UK) introduces you to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities of individuals and businesses.

You are introduced to the rationale behind – and the functions of – the tax system. The syllabus then considers the separate taxes that an accountant would need to have a detailed knowledge of, such as income tax from self-employment, employment and investments, the corporation tax liability of individual companies and groups of companies, the national insurance contribution liabilities of both employed and self-employed persons, the value added tax liability of businesses, the chargeable gains arising on disposals of investments by both individuals and companies, and the inheritance tax liabilities arising on chargeable lifetime transfers and on death.

Having covered the core areas of the basic taxes, you should be able to compute tax liabilities, explain the basis of their calculations, apply tax planning techniques for individuals and companies and identify the compliance issues for each major tax through a variety of business and personal scenarios and situations.

Furthermore, the syllabus contains outcomes relating to the demonstration of appropriate digital and employability skills in preparing for and taking the examination. This includes being able to interact with different question item types, manage information presented in digital format and being able to use the relevant functionality and technology to prepare and present response options in a professional manner.

Who is this course for?

• The ACCA qualification is ideal for people who want a career in finance and business.

Requirements

The Taxation (TX-UK) exam is part of the Applied Knowledge Level of the ACCA qualification. If you are graduated with a degree accredited by ACCA you are exempt from this subject.

Syllabus structure

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• The UK tax system and its administration
• Income tax and NIC liabilities
• Chargeable gains for individuals
• Inheritance tax
• Corporation tax liabilities
• Value added tax (VAT)
• Employability and technology skills

On successful completion of this subject, you should be able to:

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• Explain the operation and scope of the tax system and the obligations of taxpayers and/or their agents and the implications of non-compliance.
• Explain and compute the income tax liabilities of individuals and the effect of national insurance contributions (NIC) on employees, employers and the self-employed
• Explain and compute the chargeable gains arising on individuals.
• Explain and compute the inheritance tax liabilities of individuals.
• Explain and compute the corporation tax liabilities of individual companies and groups of companies.
• Explain and compute the effects of value added tax on incorporated and unincorporated businesses.
• Demonstrate employability and technology skills.

Assessment

• Format: paper based
• Availability: March, June, September, and December
• Pass: A score of 50%
• Length: 3 hours 

Questions: The exam consists of three sections: Section A comprises 15 objective test questions of 2 marks each. Section B comprises three questions each containing five objective test questions. Section C comprises one 10 mark and two 15 mark constructed response questions. The two 15-mark questions will focus on income tax and corporation tax. All other questions can cover any areas of the syllabus.

Please Note: Official Exam is not provided; it should be purchased separately.

Registration and Access 

Once you complete an online purchase you will receive confirmation of account activation. Please allow 48 hours to get access to all the modules and for your eLearning account to be set up.

If you wish to receive an invoice instead of paying online, please contact us at info@myseminars.com.cy Access to the course is valid for 365 days.

Certification

Upon the successful completion of the subject Taxation (TX-UK), you can advance to the next subject of the ACCA Applied Skills Level or If you have already completed other subjects, can proceed to the next Level.