This class was created by Brainscape user Christopher White. Visit their profile to learn more about the creator.
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Decks in this class (18)
Chapter 1: Introduction to Business Tax
Fiscal year,
Financial year,
Hmrc regulations and guidance
9
cards
Chapter 2: Sole Traders - Trade Profits - badges of trade
Income tax v capital gains taxsal...,
Income tax v capital gains taxsal...,
Hmrc uses badges of trade to conc...
12
cards
Chapter 2: Sole Traders - Trade Profits
Reasons for adjusting profits,
Disallowable expenditure,
Proforma to adjust profits
12
cards
Chapter 3: Sole Traders - Capital allowances
Expenditure qualifying for capita...,
Definition of plant,
Hmrc allowance of specific items ...
23
cards
Chapter 4: Sole Traders - Basis periods
True or falsea trader can make up...,
What is current year basis,
First year of tradefor example so...
12
cards
Chapter 5: Sole Trader - Losses
What will it say if there is a lo...,
Loss can be offset against future...,
Losses can be offset against curr...
7
cards
Chapter 3: Sole Traders - Capital allowance (Summary)s
Aia limit pro rate qualifying assets,
Wda,
Fya
16
cards
Chapter 6: Partnerships
Changes to profit sharing agreements,
Partner joins,
Partner leaves
6
cards
Chapter 7: NI
Sole traders and partnerships cla...,
How can class 2 ni be avoided
2
cards
Chapter 8: Sole trader and partnerships Tax administration
Paper returns notice to file,
Electronic returns notice to deliver,
Late payment within 30 days of du...
6
cards
Chapter 9: Companies - TTP
Do companies include dividends re...,
3 rules trading profitsprivate us...,
How to work out interest income
9
cards
Chapter 10 - adj to profit
Fines and penalties disallowable ...,
Super deductions capital allowanc...
2
cards
Chapter 11 - Calculating corporation tax
Calculating corp tax
1
cards
Chapter 12: Companies - losses
Need to learn not in ref,
Capital losses,
Property business losses
8
cards
Chapter 13: Companies - Chargeable Gains
Indexation,
Rollover relief qualifying assets,
Rollover relief obtain 100 relief
6
cards
Chapter 14: Companies - Share Disposal
Matching rules,
What is an event bi or ri
2
cards
Chapter 15: Companies - Tax administration
What is considered a large company,
Augmented profits,
51 group companies
5
cards
Chapter 17: Tax planning (Task 9)
Things to consider for profit ext...,
Ni payable on salaries and dividends,
Tax planning for spouses civil pa...
4
cards
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BNTA
- Class purpose General learning
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