June 2023 to March 2024 exams Watch free ACCA TX lectures
4. The syllabus 4.1. The UK tax system and its administration (a)
The overall function and purpose of taxation in a modern economy
(b)
Principal sources of revenue law and practice
(c)
The systems for self assessment and the making of returns
(d)
The time limits for the submission of information, claims and payment of tax, including
payments on account
(e)
The procedures relating to compliance checks, appeals and disputes
(f)
Penalties for non-compliance
4.2. Income tax and NIC liabilities (a)
The scope of income tax
(b)
Income from employment
(c)
Income from self-employment
(d)
Property and investment income
(e)
The comprehensive computation of taxable income and income tax liability
(f)
National Insurance contributions for employed and self employed persons
(g)
The use of exemptions and reliefs in deferring and minimising income tax liabilities
4.3. Corporation tax liabilities (a)
The scope of corporation tax
(b)
Taxable Total Profits
(c)
Chargeable gains for companies
(d)
The comprehensive computation of corporation tax liability
(e)
The e
ff
ect of a group corporate structure for corporation tax purposes
(f)
The use of exemptions and reliefs in deferring and minimising corporation tax liabilities
4.4. Chargeable gains (a)
The scope of the taxation of capital gains
(b)
The basic principles of computing gains and losses.
(c)
Gains and losses on the disposal of movable and immovable property
(d)
Gains and losses on the disposal of shares and securities
(e)
The computation of capital gains tax
(f)
The use of exemptions and reliefs in deferring and minimising tax liabilities arising on the
disposal of capital assets
