Description
The unit covers the foundational theory of taxation, providing insight into taxes that affect every UK taxpayer. Within income tax, you will explore various sources of income, such as employment income, income from investments, and income from property. Additionally, deductions and reliefs applicable to income tax will be thoroughly covered, empowering you to calculate the net income tax liability for UK taxpayers. The topic of National Insurance will also be addressed.
Furthermore, you will delve into capital gains tax and inheritance tax, understanding their fundamental principles and how they may impact UK taxpayers.
With a comprehensive understanding of these three taxes, you will gain insight into the taxation implications of decisions made by clients. You will be capable of providing advice and guidance to ensure taxpayers comply with tax legislation.
Overall, the unit aims to equip you with knowledge of taxation as it pertains to UK taxpayers, enabling you to accurately and fairly compute tax liabilities. Moreover, it fosters an appreciation for the theory behind taxation, including ethical aspects specifically relevant to a taxation practitioner.
Learning outcomes
- Understand principles and rules that underpin taxation systems
- Calculate UK taxpayers’ total income
- Calculate income tax and National Insurance contributions (NICs) payable by UK taxpayers
- Calculate capital gains tax payable by UK taxpayers
- Understand the principles of inheritance tax
Details
Publisher - BookVAULT Publishing
Language - English
Paperback
Author(s) - Accountext Publishing Ltd
Published Date - January 17 2025
ISBN - 9781836903147
Dimensions - 29.7 x 21 x 1.6 cm
Page Count - 288
Payment & Security
Your payment information is processed securely. We do not store credit card details nor have access to your credit card information.