F6 Taxation (TX)
A. The UK tax system
1. The overall function and purpose of taxation in
a modern economy
2. Different types of taxes
3. Principal sources of revenue law and practice
4. Tax avoidance and tax evasion
B. Income tax liabilities
1. The scope of income tax
2. Income from employment
3. Income from self-employment
4. Property and investment income
5. The comprehensive computation of taxable
income and income tax liability
6. The use of exemptions and reliefs in deferring
and minimising income tax liabilities
C. Corporation tax liabilities
1. The scope of corporation tax
2. Profits chargeable to corporation tax
3. The comprehensive computation of corporation
tax liability
4. The effect of a group corporate structure for
corporation tax purposes
5. The use of exemptions and reliefs in deferring
and minimising corporation tax liabilities
D. Chargeable gains
1. The scope of the taxation of capital gains
2. The basic principles of computing gains and
losses.
3. Gains and losses on the disposal of movable
and immovable property
4. Gains and losses on the disposal of shares and
securities
5. The computation of capital gains tax payable
by individuals
6. The use of exemptions and reliefs in deferring
and minimising tax liabilities arising on the
disposal of capital assets
E. National insurance contributions
1. The scope of national insurance
2. Class 1 and Class 1A contributions for
employed persons
3. Class 2 and Class 4 contributions for selfemployed
persons
F. Value added tax
1. The scope of value added tax (VAT)
2. The VAT registration requirements
3. The computation of VAT liabilities
4. The effect of special schemes
G. The obligations of taxpayers and/or their
agents
1. The systems for self-assessment and the
making of returns
2. The time limits for the submission of
information, claims and payment of tax,
including payments on account
3. The procedures relating to enquiries, appeals
and disputes
4. Penalties for non-compliance