This class was created by Brainscape user lipton Tea. Visit their profile to learn more about the creator.

Decks in this class (20)

Topic 1
What are the principles of modern...,
What are the 3 tax rate structure,
What is indirect tax and its example
15  cards
Residency Test
What are the 3 things in the auto...,
What is the sufficient ties test,
What are the 3 things in the auto...
5  cards
Income Tax Computation- Overview
What are the 7 types of income th...,
List of exempt income,
What are the two types of reliefs...
34  cards
Topic 4- Property Income
What are the list of allowable ex...,
List of costs that are not allowa...,
Is property income calculated via...
21  cards
Topic 5- Employment Income
If a contract is not present then...,
What is the definition of basis o...,
What is the definition of assessa...
43  cards
Topic 7- Income from Self-employment
What is the definition of trading...,
What are the badges of trade list...,
In addition to the badges of trad...
24  cards
Topic 8- Capital Allowances
What is the purpose of capital al...,
What is the definition of plant,
What are the most common examples...
26  cards
Topic 9- Sole traders basis of assessment
What is the ongoing year rules,
What is the first tax year called...,
What are the second tax year rules
8  cards
Topic 10- Partnerships
What is a partnership and how is ...,
How is it taxed,
What is step 1 in calculating tra...
12  cards
Corporation Tax
What is a chargeable accounting p...,
When does cap start and end,
What is a period of account eg wh...
49  cards
Inheritance Tax
What are the two types of lifetim...,
What is chargeable property,
What is chargeable person
25  cards
Capital gains tax- General
Who is a chargeable person,
What is a chargeable disposal and...,
What is a chargeable asset
62  cards
Any amount can be contributed by ...,
What are the list of relevant ear...,
How is the tax relief given on a ...
25  cards
Tax Admin for individuals
What is the filing date of indivi...,
What is the payment date of capit...,
What is the payment date of class...
40  cards
Tax admin for corporations
What is the rate of corporation tax,
What is the fine for not keeping ...,
When must you pay tax by for smal...
19  cards
Trading Losses
What are the three main reliefs f...,
What is carry forward relief,
What is relief against total inco...
23  cards
National Insurance Contributions
What are the types of nic and who...,
What is class 1 nic primary paid ...,
What are the list of income that ...
32  cards
Capital gains tax- Individual Relief
What is entrepreneurs relief,
What are qualifying assets for en...,
What are non qualifying assets fo...
52  cards
Value Added Tax
What kind of tax is vat,
What is output tax,
What is imput tax
79  cards
Capital gains tax- Companies
What are the key differences simi...,
What is indexation alliance,
For companies what is the matchin...
19  cards

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income tax

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