Professional Level: Tax Compliance

Overview

Course Content

  • Course contents
  • The ethical implications of dealing with UK taxes
  • How to compute an individual’s Income Tax (IT) liability
  • Calculating taxable income from property
  • Tax relief for pension contributions
  • Calculating taxable employment income
  • How trusts are charged income tax
  • Working out the taxable profits of a sole trade business
  • How to obtain tax relief for loss-making businesses
  • How partnerships are taxed
  • How Capital Gains Tax (CGT) is charged on disposals of assets
  • Reliefs that can reduce CGT liability
  • How CGT is charged on leasehold property
  • How tax affects non-residents and non-UK income
  • Calculating National Insurance on earned income
  • Value Added Tax (VAT) on goods and services
  • Stamp Taxes on purchases of shares or land
  • Inheritance Tax on estates and lifetime gifts
  • Corporation Tax on company profits
  • Special tax rules for groups of companies

Course Objective and Approach:

The course is planned to prepare you for success in the Tax Compliance exam. This is our key objective. We assume that you have done some preparatory work prior to the commencement of the course and that we can build on this through the duration of the course.

The course will consist of 4 phases –

  • a ECR phase 1 to revise prior assumed knowledge and acquire NEW knowledge (must be watched before the start of the taught phase);
  • a face-to-face taught phase to review the ECR phase 1, to cover new knowledge and to prepare students for ECR Phase 2 (5 lectures x 3 hrs);
  • a ECR phase 2 to acquire NEW knowledge (must be watched before start of the revision phase);
  • a revision phase (10 lectures x 3 hrs).

Lectures will follow the content of BPP course notes and will include extensive practice on questions from the ICAEW Question Bank.

You will be set assignments at the end of each lecture session. All assignments will be reviewed/ assessed by the course tutor in the following session.

The course is interactive and you will be encouraged to participate in class discussions.

“Completeness” is a key audit assertion. To meet the key course objective of exam success you need to be complete in your exam preparation. The course is aimed at exposure/ coverage to/ of most exam matters. You will be expected to attend all lectures and revisions, complete all course assignments and sit for and return all PT and ME answers.