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Level 4 AAT - Personal Tax

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

By: Oliver Webb
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Decks in this class (11)

Introduction to taxation
 Objectives and functions of taxation  Regulations and guidance  Roles and responsibilities of the tax practitioner  Tax planning, tax avoidance and tax evasion  Taxes in the UK  Overview of income tax  Proforma income tax computation  Residence and domicile
34  cards
Employment income
 Employed versus self-employed (employment status)  Earnings  Basis of assessment  Assessable benefits and general rules  Car benefit  Living accommodation  Assets made available for private use  Other benefits  Exempt benefits  Allowable deductions  Tax planning  Taxing employment income
53  cards
Property income
 Property income  Land and buildings  Allowable deductions from property income  Property allowance  Losses  Tax planning  Taxing property income
9  cards
Income from savings and investments
 Savings income  Taxing savings income  Dividend income  Taxing dividend income  Tax free investments  Other exempt income  Tax planning
8  cards
Taxable income
 Proforma income tax computation  Completing taxable income  Personal allowance  Income over £100,000 personal allowance restriction  Tax planning
7  cards
Calculating income tax
 Income tax rates  Calculating tax liability  Calculating tax payable (tax due)  Extending the tax bands  Personal pension schemes  Putting it all together  Tax planning
4  cards
Nathional Insurance
 National Insurance  Class 1 National Insurance  Class 1 Primary contributions  Class 1 Secondary contributions  Class 1A contributions  Tax planning
12  cards
Calculating capital gains tax
 Capital gains tax  Calculating the chargeable gain or loss  Calculating the tax  Part disposals  Disposals to connected persons  Disposals to spouse/civil partner  Tax planning
20  cards
Chattels and private residence
 Chattels  Private residences  Calculating PPR relief  Tax planning
12  cards
Shares
 Issues with share disposals  Bonus issues and rights issues  Tax planning
4  cards
Inheritance tax
 The scope of inheritance tax  Gifts in lifetime  Transfers within 7 years of death  Death estate  Tax planning
30  cards

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Level 4 AAT - Personal Tax

  • Class purpose General learning

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