Preparing Taxation Computations (GBR)

Subject Contents:
Adjusted profit / loss computations for trades and professions; National insurance contributions; Income from employment; Property and investment income; Income tax computations; Chargeable gain computations (individuals and companies); Administration of income tax and capital gains tax; Corporation tax computations; Administration of corporation tax; Value added tax (VAT)

 
Objectives:
On completion of this paper, students will be able to:

• prepare adjusted profit / loss computations for trades and professions
• calculate an individual’s income from employment
• prepare computations of property and investment income
• prepare income tax computations
• prepare computations of the chargeable gains arising on disposals by both individuals and companies
• prepare corporation tax computations
• complete and submit value added tax calculations using data from the appropriate recording systems
• identify the due dates for submission of returns and the payment of tax liabilities
• conduct dealings with the HM Revenue & Customs and with clients in an appropriate manner.