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Principles of Tax

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

By: Sam Chamberlain
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Decks in this class (14)

Employment Income
What does employment income include,
When will employment income be taxed,
What are the 2 general rules when...
22  cards
Trading Profits
What are the badges of trade,
How are taxable trading profits c...,
How much is the annual trading al...
28  cards
Capital Allowances
What are capital allowances,
What is the set rate of the wda,
What expenditures on assets are i...
19  cards
Trading Profits - Basis of assessment
What are the opening year rules,
What are overlap profits,
How is the final tax year treated
8  cards
NIC
What are class 1 primary nics,
What are class 1 secondary nics,
How much is the employment allowance
15  cards
Capital gains tax (Individuals)
How does a capital gain arise,
What are the steps when deciding ...,
Who are included as chargeable pe...
20  cards
Corporation tax
Who is chargeable to corporation tax,
Is company residence a factor in ...,
What makes a company resident in ...
28  cards
VAT
How is vat applied to sales,
How is vat applied to purchases,
What s a taxable supply
37  cards
Ethics
Who sets the ethics standards for...,
What are the threats to the funda...,
What are the fundamental principles
12  cards
Introduction to Tax
What good behaviours do the gover...,
What bad behaviours do the govern...,
What is a direct tax
19  cards
Introduction to income tax
What income is exempt from income...,
What is net income,
What is taxable income
13  cards
VAT - further aspects
What is meant by accounting for vat,
How long is the vat period normally,
Who are substantial traders
17  cards
Administration of tax
When must an individual liable to...,
How long do hmrc have to amend er...,
How long does the taxpayer have t...
51  cards
ACA Masters learning
What taxes are individuals employ...,
What axes do unincorporated busin...,
What taxes do owners of limited c...
9  cards

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Principles of Tax

  • Class purpose General learning

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