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ACCA – Taxation (TX-UK)

This subject helps you develop knowledge and skills relating to the tax system


London Governance & Compliance Academy

Summary

Price
£425 inc VAT
Or £70.83/mo. for 6 months...
Study method
Distance learning, self-paced
Duration
3 hours
Qualification
ACCA Diploma in Accounting and Business (RQF Level 4)
Regulated qualification What's this?

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Overview

This subject helps you develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.

The syllabus for Taxation – United Kingdom (TX-UK) introduces you to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities of individuals and businesses.

You are introduced to the rationale behind – and the functions of – the tax system. The syllabus then considers the separate taxes that an accountant would need to have a detailed knowledge of, such as income tax from self-employment, employment and investments, the corporation tax liability of individual companies and groups of companies, the national insurance contribution liabilities of both employed and self-employed persons, the value added tax liability of businesses, the chargeable gains arising on disposals of investments by both individuals and companies, and the inheritance tax liabilities arising on chargeable lifetime transfers and on death.

Having covered the core areas of the basic taxes, you should be able to compute tax liabilities, explain the basis of their calculations, apply tax planning techniques for individuals and companies and identify the compliance issues for each major tax through a variety of business and personal scenarios and situations.

Furthermore, the syllabus contains outcomes relating to the demonstration of appropriate digital and employability skills in preparing for and taking the examination. This includes being able to interact with different question item types, manage information presented in digital format and being able to use the relevant functionality and technology to prepare and present response options in a professional manner.

Qualification

ACCA Diploma in Accounting and Business (RQF Level 4)

Regulated by Ofqual

Course media

Description

Syllabus structure

    • The UK tax system and its administration

    • Income tax and NIC liabilities

    • Chargeable gains for individuals

    • Inheritance tax

    • Corporation tax liabilities

    • Value added tax (VAT)

    • Employability and technology skills

Main Capabilities

On successful completion of this subject, you should be able to:

    • Explain the operation and scope of the tax system and the obligations of taxpayers and/or their agents and the implications of non-compliance.

    • Explain and compute the income tax liabilities of individuals and the effect of national insurance contributions (NIC) on employees, employers and the self-employed

    • Explain and compute the chargeable gains arising on individuals.

    • Explain and compute the inheritance tax liabilities of individuals.

    • Explain and compute the corporation tax liabilities of individual companies and groups of companies.

    • Explain and compute the effects of value added tax on incorporated and unincorporated businesses.

    • Demonstrate employability and technology skills.

Who is this course for?

The ACCA qualification is ideal for people who want a career in finance and business.

Requirements

The Taxation (TX-UK) exam is part of the Applied Knowledge Level of the ACCA qualification. If you are graduated with a degree accredited by ACCA you are exempt from this subject.

Questions and answers


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Maan asked:

After finishing this course here, am i entitled for a Certificate from ACCA for Taxation?

Answer:

No, by completing this course you will have completed one of the six subjects of the second of the three levels (the Applied Skills) that lead to the ACCA qualification. To be awarded the ACCA Certificate in Taxation (RQF Level 4), you must have successfully completed the Foundations in Taxation (FTX) examination, which must have been set and passed, and have completed the Foundations in Professionalism module.

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.