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Nick Duley
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Decks in this class (53)
Types of Tax
Income tax,
National insurance contributions,
Capital gains tax
6
cards
Direct Tax vs Indirect Tax
What is direct tax,
Examples are direct tax,
What is indirect tax
10
cards
Exempt Income
First exemption,
Second exemption,
Third exemption
10
cards
Dividends
First 2 000 on dividend income,
Dividend income in excess of 2 00...,
Dividend income in excess of 2 00...
4
cards
Savings income
What is savings income,
What does savings income include,
How is savings income assessed
10
cards
Personal Allowance
What is personal allowance pa,
What happens to pa,
Normal pa
8
cards
Misc
Bank deposit interest
1
cards
Payment to charity under the Gift Aid System and Personal Pension Contributions
How is 40 tax relief given for th...,
How is 45 tax relief given for th...,
Rate for the basic rate band
3
cards
Child Benefit Income Tax Charge
When does an income tax charge apply,
What if both partners have an inc...,
What happens with ani is between ...
3
cards
Residence
Less than 16 days in uk,
16 45 days in uk,
46 90 days in uk
6
cards
Vehicle Tax Overview
Base level of co2 emissions,
Percentage for 51 grams to 54 grams,
Percentage for 55 grams
13
cards
Capital Allowances
Main pool plant and machinery,
Special rate pool plant and machi...,
Motor cars with new cars with zer...
10
cards
Pension Scheme Limits
Annual allowance,
Minimum allowance,
Income limit
5
cards
Value Added Tax
Standard rate,
Registration limit,
Deregistration limit
3
cards
Inheritance Tax
Nil rate band,
Residence nil rate band,
Excess death rate
8
cards
Rates of interest
Official rate of interest,
Rate of interest on underpaid tax,
Rate of interest on overpaid tax
3
cards
Capital Gains Tax
Annual exempt amount,
Rate of tax normal rates lower rate,
Rate of tax normal rates higher rate
9
cards
National Insurance
Class 1 employee at 0,
Class 1 employee at 1325,
Class 1 employee at 325
11
cards
Standard Penalties for Errors
Deliberate and concealed maximum ...,
Deliberate and concealed unprompt...,
Deliberate and concealed prompted...
9
cards
Property Income Liable
Which forms of income are liable,
When is it mandatory to use accru...,
When is a deduction liable
10
cards
Property Income Liable (2)
How is the amount of relief reduced,
Why does replacement furniture no...,
How is expenditure incurred up to...
4
cards
Finance Expenses on Property Income
How is relief given,
How is relief given,
Where does the basic rate restric...
5
cards
Furnished holiday lettings
How are capital allowances treated,
How does income qualify,
What is also available for lettings
9
cards
Rent a Room Relief
What if gross rent exceeds 7 500,
Calculate property income where g...
2
cards
Lease Premium on Grant of Short Lease
Assess the amount of premium in p...,
Bill grants richard a lease to a ...,
Show the relief available for ric...
3
cards
ISA
Isas and income,
Isas and disposals,
Isas and holding period
5
cards
National Savings
National savings certificates exe...,
Which ns i products are taxable,
How is income received
4
cards
Badges of Trade
What is sofirm useful for,
What is subject matter,
What is length of ownership
7
cards
Typical Expenditure by a Business (1)
General rule is,
Is capital expenditure allowable,
Repair of an asset
9
cards
Typical Expenditure by a Business (2)
Trade or professional association...,
Charitable donation not under the...,
National international charity do...
11
cards
Typical Expenditure by a Business (3)
Fines and penalties,
What happens to accounting profit,
Deduction in owner s salarydrawin...
9
cards
Capital Allowances
What are capital allowances,
What does capital allowance replace,
How does capital allowance give t...
5
cards
Capital Allowance Computations for Plant and Machinery (1)
How are capital allowances deducted,
The three types of capital allowa...,
Current aia investment limit
7
cards
Capital Allowance Computations for Plant and Machinery (2)
What happens to plant and machine...,
Motor cars with co2 emissions of ...,
Motor cars with co2 emissions ove...
4
cards
Special Rate Pool
Integral features of a building 1,
Integral features of a building 2
2
cards
Sale of Plant and Machinery
What happens when plant and machi...,
What is a balancing allowance,
What is a balancing charge
5
cards
Non-Pool Assets (1)
When are assets not in special or...,
When an asset is used by the owne...,
Rule of capital allowances based ...
9
cards
Non-Pool Assets (2)
What is a depooling election,
Benefit of depooling,
What can be treated as a short li...
7
cards
Non-Pool Assets (3)
When can a balancing charge arise...,
When can a balancing charge arise...,
When can a balancing allowance on...
4
cards
Preparing Capital Allowance Computation
Step 1,
Step 2,
Step 3
9
cards
Structures and Buildings Allowance
What expenditure can t qualify as...,
What do qualifying buildings include,
What do qualifying buildings incl...
4
cards
Basis Periods
What happens in first tax year,
No accounting period which ends i...,
Accounting period less than 12 mo...
8
cards
Basis Periods (2)
Actual trading profits in the las...,
What happens to overlap profit re...
2
cards
Basis Periods for Capital Allowances
What are capital allowances deduc...,
What happens when an accounting i...,
What is never time apportioned
8
cards
Cash Basis for Small Businesses (1)
Which businesses can have elections,
When must a trader leave the scheme,
What does the cash basis assess
7
cards
Cash Basis for Small Businesses (2)
What if a trading loss arises und...,
What does the flat rate add back ...
2
cards
Trading Losses
What if the basis period for a ta...,
What can the trading profit figur...,
Repayment of income tax and profits
7
cards
Carry forward of trading losses
What happens to a trading loss c f,
What happens to the trading loss,
What must be done with the remain...
3
cards
Loss Relief against Total Income (1)
How is the loss calculated,
A loss for the year ended 30 june...,
Relief against total income and loss
9
cards
Loss Relief against Total Income (2)
What can taxpayer do after a clai...,
Calculate maximum amount
2
cards
Losses in Opening Year
What happens in first four tax ye...,
Loss is carried back,
One claim
6
cards
Terminal Loss Relief
First part of terminal loss relief
1
cards
Answering Tax Adjusted Trading Loss Questions
Step 1,
Step 2,
Step 3
6
cards
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Tax Accounting
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