ACCA Taxation (TX-UK) Exam Preparation Course
The taxation course (TX, UK stream) covers an introduction to the UK tax system and its administration. The course concentrates on main taxes. A vast part of the syllabus is devoted to the study of income tax, starting with basic income tax computation, discussing in detail the components of income (employment income, property income, investment income, pensions), in line with different reliefs available. The syllabus then addresses the corporate taxation issues, studies different methods of loss reliefs, and specific treatment in case of groups of companies. A huge portion of the syllabus is devoted to the capital gains tax, both cases referring to individuals and companies are discussed and considered. The course will cover the calculation techniques, available reliefs, types of qualifying assets, etc. The study course will be finalized with considering the methodology and calculation of inheritance tax, and a general overview of value-added tax.
Course objectives and learning outcomes:
The objective of this course is to develop knowledge and understanding of the underlying principles and concepts relating to taxation, application of the main taxes and computation principles in the UK tax system.
On successful completion of this paper candidates should be able to:
- Understand UK tax system and its administration
- Calculate income tax and NIC liabilities
- Calculate capital gains tax for individuals and companies
- Calculate corporation tax liabilities
- Calculate inheritance tax
- Calculate value added tax
Learning approach:
This is a 60-hour course, divided into two sections. Study part will be held in 12 courses, 3h each, followed by a revision course of 8 lessons (8 meetings with 3h length). The students will be required to sit two mock exams, one of them after the finalization of the study part and the second one before the last revision course. They will have around 2 weeks of self-study and revision before the international exam sitting.
Readings
Study books by ACCA Approved Content Providers (Kaplan Publishing and BPP Learning Media), Classroom Notes, Examiner’s articles, examiner’s approach interview, and technical articles.
Required Practice
- 2 Mock exams from the Question Bank
