LO1
Understand the UK tax system (individuals and trusts)
Overall mastery –
- Income Tax: sources, liability, allowances, reliefs, employee benefits, taxing priorities, trust/beneficiary/settlor income–
No attempts recorded yet.
- NICs: employer/employee/self-employed liability, contribution levels, voluntary NICs–
No attempts recorded yet.
- CGT: liability, rates, disposals, gains/losses, reliefs & exemptions, trust gains–
No attempts recorded yet.
- IHT: liability, transfers, NRBs, rates, reliefs & exemptions incl. gifts to charity/political parties, trust assets–
No attempts recorded yet.
- Residence: SRT, UK ties, long-term UK residence status, impact on IT/CGT/IHT–
No attempts recorded yet.
- UK tax compliance: self assessment, PAYE, returns, payments, evasion & avoidance–
No attempts recorded yet.
- Stamp Duty, SDRT and SDLT: transactions, rates, main reliefs–
No attempts recorded yet.
- VAT and Corporation Tax (outline)–
No attempts recorded yet.