Chapter 2 - 5.3 - When Penalties are Charged Flashcards by Verity Russell

Principles of Taxation (165 decks)

Chapter 1 - 1.1 - Sources of Tax Law

Chapter 1 - 1.2 - Sources of Tax Practice

Chapter 1 - 2.1 - Objectives of Tax

Chapter 1 - 2.2 - Social Justice

Chapter 1 - 2.3 - External Influences

Chapter 1 - 3.1 - Types of UK Tax

Chapter 1 - 3.2 - The Tax Year

Chapter 1 - 3.3 - Making Tax Digital

Chapter 1 - 4.1 - HMRC Responsibilities

Chapter 1 - 4.2 - Compliance Checks

Chapter 1 - 4.3 - Determinations

Chapter 1 - 4.4 - Discovery Assessments

Chapter 1 - 4.5 - Payment Support Service

Chapter 1 - 4.6 - Direct Recovery

Chapter 1 - 4.7 - Appeals

Chapter 1 - 4.8 - Dishonest Conduct by Tax Agents

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Chapter 10 - 1.1 - Fundamental Principles

Chapter 10 - 1.3 - Confidentiality

Chapter 10 - 2.1 - Threats to Compliance with the Fundamental Principles

Chapter 10 - 2.2 - Safeguards against Threats

Chapter 10 - 3.1 - Conflict Resolution Process

Chapter 10 - 4.1 - Threat of Conflict of Interest

Chapter 10 - 4.2 - Safeguards

Chapter 10 - 5.1 - Tax Avoidance

Chapter 10 - 5.2 - Tax Evasion

Chapter 10 - 6.1 - Money Laundering

Chapter 10 - 6.2 - Procedures

Chapter 10 - 6.3 - Client Confidentiality

Chapter 10 - 6.4 - Penalties

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Chapter 2 - 1.2 - Types of Income

Chapter 2 - 1.3 - Exempt Income

Chapter 2 - 1.4 - Chargeable Income

Chapter 2 - 1.5 - Net Income

Chapter 2 - 2.1 - Taxable Income

Chapter 2 - 2.2 - Personal Allowance

Chapter 2 - 2.3 - Withdrawal of the Personal Allowance

Chapter 2 - 3.1 - Calculation of Income Tax on Non-Savings Income

Chapter 3 - 3.2 - Calculation of Income Tax on Savings Income

Chapter 2 - 3.3 - Types of Taxpayer

Chapter 2 - 3.4 - Savings Nil Rate Band

Chapter 2 - 3.5 - Calculation of Income Tax on Dividend Income

Chapter 2 - 3.6 - Computing Tax Payable or Repayable

Chapter 2 - 3.7 - Donations Under the Gift Aid Scheme

Chapter 2 - 3.8 - Transferable Marriage Allowance

Chapter 2 - 4.1 - Income Tax Returns

Chapter 2 - 4.2 - Submission of the Return

Chapter 2 - 4.3 - Amending Tax Returns

Chapter 2 - 4.4 - Repayment Interest

Chapter 2 - 4.5 - Late Repayment

Chapter 2 - 5.1 - Common Penalty Regime

Chapter 2 - 5.2 - Penalties for Errors

Chapter 2 - 5.3 - When Penalties are Charged

Chapter 2 - 5.4 - How Penalties are Calculated

Chapter 2 - 5.5 - Penalties for Failure to Notify

Chapter 2 - 5.6 - Reasonable Excuse

Chapter 2 - 5.7 - Penalties for Late Filings of Returns

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Chapter 3 - 1.1 - Employment Income

Chapter 3 - 1.3 - Vouchers

Chapter 3 - 1.4 - Trivial Benefits

Chapter 3 - 1.5 - Exempt Benefits

Chapter 3 - 1.6 - Job Related Accomodation

Chapter 3 - 2.1 - Living Accommodation Rented by the Employer

Chapter 3 - 2.2 - Living Accommodation Owned by the Employer

Chapter 3 - 2.3 - Living Expenses for Accommodation

Chapter 3 - 2.4 - Cars Provided for Private Use

Chapter 3 - 2.4.1 - Car Calculations

Chapter 3 - 2.4.2 - Hybrid Cars

Chapter 3 - 2.5 - Private Fuel Benefit

Chapter 3 - 2.6 - Van Scale Charge

Chapter 3 - 2.7 - Assets Lent for Private Use

Chapter 3 - 3.1 - Real Time Information

Chapter 3 - 3.2 - Voluntary Payrolling

Chapter 3 - 3.3 - PAYE Forms

Chapter 3 - 3.4 - Payments to HMRC

Chapter 3 - 3.5 - Penalties

Chapter 3 - 3.6 - Coding Notice

Chapter 3 - 3.7 - Calculating the PAYE Code

Chapter 3 - 3.8 - Underpaid Tax

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Chapter 4 - 1.1 - Steps to Tax a Sole Trader

Chapter 4 - 1.2 - Adjusting the Accounting Period

Chapter 4 - 1.3 - Income and Expenditure Not Included in the Accounts

Chapter 4 - 1.4 - Income Included in the Accounts that is Not Taxable Trading Income

Chapter 4 - 2.1 - Private Expenditure of the Sole Trader

Chapter 4 - 2.2 - Renumeration

Chapter 4 - 2.3 - Impaired Debts

Chapter 4 - 2.4 - Capital Expenditure

Chapter 4 - 2.5 - Subscriptions and Donations

Chapter 4 - 2.6 - Entertaining and Gifts

Chapter 4 - 2.7 - Legal and Professional Charges

Chapter 4 - 2.8 - Car Leasing and Rental Costs

Chapter 4 - 2.9 - Other Expenses

Chapter 4 - 3.1 - Starting to Trade

Chapter 4 - 3.2 - Badges of Trade

Chapter 4 - 3.3 - Trading Allowance

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Chapter 6 - 1.1 - Capital Allowances

Chapter 6 - 1.2 - Plant and Machinery

Chapter 6 - 1.3 - Pools

Chapter 6 - 1.4 - Types of Capital Allowance

Chapter 6 - 2.2.1 - Writing Down Allowance

Chapter 6 - 2.2.2 - Annual Investment Allowance

Chapter 6 - 2.2.3 - First Year Allowances

Chapter 6 - 2.3 - Disposals from the Main Pool

Chapter 6 - 2.4 - Small Pool WDA

Chapter 6 - 3.1 - Private Use Assets

Chapter 6 - 3.2 - Balancing Adjustments

Chapter 6 - 3.3 - Balancing Charges in the Main Pool

Chapter 6 - 3.4 - Cessation of Trade

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Chapter 7 - 1.2 - Commencement of Trade

Chapter 7 - 1.3 - Ongoing Business

Chapter 7 - 2.1 - Steps to Tax a Partnership

Chapter 7 - 2.2 - Change in Profit Sharing Ratio

Chapter 7 - 2.3 - Partnership Returns

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Chapter 8 - 1.1 - NICs Paid by Self-employed Individuals

Chapter 8 - 1.2 - Class 2 NICs

Chapter 8 - 1.3 - Class 4 NICs

Chapter 8 - 1.4 - Payments on Account

Chapter 8 - 1.5 - Balancing Payment

Chapter 8 - 1.6 - Late Payment

Chapter 8 - 2.1 - Class 1 NICs

Chapter 8 - 2.2 - Class 1 Primary NICs

Chapter 8 - 2.3 - Class 1 Secondary NICs

Chapter 8 - 2.4 - Apprentices and Young People

Chapter 8 - 2.5 - Employment Allowance

Chapter 8 - 2.6 - Class 1A National Insurance Contributions

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Chapter 9 - 1.1 - Scope of Capital Gains Tax

Chapter 9 - 1.2 - Chargeable Assets

Chapter 9 - 1.3 - Chargeable Disposals

Chapter 9 - 2.1 - Capital Gains Tax Computation

Chapter 9 - 2.2 - Annual Exempt Amount

Chapter 9 - 2.3 - Rate of Capital Gains Tax

Chapter 9 - 2.4 - Payment of Capital Gains Tax

Chapter 9 - 3.1 - Pro Forma

Chapter 9 - 3.2 - Disposal Consideration

Chapter 9 - 3.3 - Allowable Expenditure

Chapter 9 - 3.4 - Acquisition Cost

Chapter 9 - 4.1 - Chattels

Chapter 9 - 4.2 - Wasting and Non-Wasting Chattels

Chapter 9 - 4.3 - Non-wasting Chattels

Chapter 9 - 4.4 - Sets of Non-Wasting Chattels

Chapter 9 - 4.5 - Disposals of Sets to the Same or Connected Persons

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Chapter 11 - 1.1 - Scope of Corporation Tax

Chapter 11 - 1.2 - Accounting Periods for Corporation Tax

Chapter 11 - 1.3 - Long Periods of Account

Chapter 11 - 2.1 - Pro Forma

Chapter 11 - 2.2 - Trading Income

Chapter 11 - 2.3 - Capital Allowances

Chapter 11 - 3.1 - UK Property Income

TBC --------- Chapter 11 - 3.2 - Loan Relationship - Interest Income

Chapter 11 - 3.3 - Chargeable Gains for a Company

Chapter 11 - 4.1 - Qualifying Charitable Donations

Chapter 11 - 5.1 - Steps to Calculate Corporation Tax Liability

Chapter 11 - 5.2 - Augmented Profits

Chapter 11 - 5.3 - Rates of Tax

Chapter 11 - 5.4 - Marginal Relief

Chapter 11 - 5.5 - Short Accounting Periods

Chapter 11 - 5.6 - Associated Companies