Aim

To develop knowledge and understanding in the core areas of tax related to businesses and their employees.

Objectives

On completion of this paper candidates should be able to:

• explain the operation of the UK tax system
• prepare computations of the corporation tax liability for individual companies and groups of companies
• prepare computations of the income tax liability for employees, sole traders and partnerships
• Prepare computations of the chargeable gains arising on incorporated and unincorporated businesses
• explain and apply the principles and scope of Value Added Tax
• explain the impact of National Insurance Contributions on employees, employers and the self-employed
• explain the use of exemptions and reliefs in deferring or minimising tax liabilities and
• demonstrate the skills expected in Part 2

Important Notes: Some of the screens in the lessons may bear marks referring to course code prior to the December 2007 syllabus. While there is a revamp of the ACCA syllabus, many of the topics, especially those addressing generic areas are still the same. Our instructors had reviewed the syllabus, and had taken out topics that are no longer relevant, and inserted or replaced lessons to address new topics. The lessons in the module therefore fully addressed the post December 2007 syllabus.

Corporate businesses scope of corporation tax, residence, profits chargeable to corporation tax, charges on income, chargeable gains, calculation of the corporation tax liability, overseas aspects, groups of companies, self assessment system, Value Added Tax.

Unincorporated businesses basic income tax computation, self assessment system, Schedule D case I/II, Capital gains tax, Value Added Tax, Class 2 and Class 4 NIC.

Employees Schedule E, occupational pension schemes, Class 1 and Class 1A NIC.

Tax planning employment v self-employment, remuneration packages, choice of business medium, incorporation of a business, disposal of a business, directors and shareholders.

Lecturer: Mr Ahmad Salman

Mr Ahmad Salman holds a BA in Economics and Statistics and a MSc in Financial Management from Gordon University, UK. He is also Certified Public Accountant, completing all the papers of ACCA in the examination of December 2003. Mr Salman is a tax consultant working in the UK since 2003. He is well versed in all taxation matters in the UK, having advised all kinds of clients in the last three years of practice. Having successfully completed all ACCA professional papers, Mr Salman understands what it takes to do well at ACCA exams and will be able to coach students to do so as well.

Included with this subscription are the following.

1. Access to Outreach virtual classroom lessons
2. Online assessment tests
3. PDF copies of lecture notes.

Click here to download sample lesson. Save the downloaded executable file to your local harddisk. Double click on the file to run and view lesson. The file about 6 - 8MB in size and may take a while to download for slow Internet links.
Note that NOTHING will be installed on your computer when you run this file. Simply delete this file when you do not need it anymore.

Terms and Conditions:
For the subscription price stated below, you will have unlimited access to all the lessons in this module, during the access period (as stated below).

Note that the subscription price DOES NOT include ACCA membership fees or examination fees. You will have to liase with ACCA UK, and any membership and examination fees shall be paid directly to ACCA UK.

Refund: For refund request after purchase, please refer to our Refund Policy listed on our home page.

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