ACCA Taxation Module - ACCA TX F6

This ACCA TX F6 Taxation module is designed to develop your understanding of the tax system in relation to companies and individuals. During this course, you'll learn more about the obligations of tax payers, computing the income tax liabilities of individuals and the corporation tax liabilities of individual companies and groups of companies. To achieve the full ACCA membership qualification you will need to complete this course, as well as 12 other modules. Alternatively, you can complete this module, plus the following five modules to achieve the ACCA Fundamentals - Applied Skills qualification:

• ACCA LW F4 Corporate and Business Law
• ACCA PM F5 Performance Management
• ACCA FR F7 Financial Reporting
• ACCA AA F8 Audit and Assurance
• ACCA FM F9 Financial Management

Or, if you're looking to simply develop your knowledge of business environments, you can also study this course on its own. Read our guide to the ACCA course and modules.

Course Content

Section A The UK tax system and its administration

• the overall function and purpose of taxation in a modern economy
• Principal sources of revenue law and practice
• The systems for self-assessment and the making of returns
• The time limits for the submission of information, claims, and payment of tax, including payments on account
• The procedures relating to compliance checks, appeals, and disputes
• Penalties for non-compliance

Section B Income tax and NIC liabilities

• The scope of income tax
• Income from employment
• Income from self-employment
• Property and investment income
• The comprehensive computation of taxable income tax liability
• National insurance contributions for employed and self-employed persons
• The use of exemptions and reliefs in deferring and minimising income tax liabilities

Section C Chargeable gains for individuals

• The scope of the taxation of capital gains
• The basic principles of computing gains and losses
• Gains and losses on the disposal of movable and immovable property
• Gains and losses on the disposal of shares and securities
• The computation of capital gains tax
• The use of exemptions and reliefs in deferring and minimising tax liabilities arising on the disposal of capital assets

Section D Inheritance tax

• The basic principles of computing transfers of vlaue
• The liabilities arising on chargeable lifetime transfers and on the death of an individual
• The use of exemptions in deferring and minimising inheritance tax liabilities
• Payment of inheritance tax

Section E Corporation tax liabilities

• The scope of corporation tax
• Taxable total profits
• Chargeable gains for companies
• The comprehensive computation of corporation tax liability
• The effect of a group corporate structure for corporation tax purposes
• The use of exemptions and reliefs in deferring and minimising corporation tax liabilities

Section F Value added tax (VAT)

• The VAT registration requirements
• The computation of VAT liabilities
• The effect of special schemes

Section G Employability and technology skills

• Use computer technology to efficiently access and manipulate relevant information
• Work on relevant response options, using available functions and technology, as would be required in the workplace
• Navigate windows and computer screens to create and amend repsonses to exam requirements, using the appropriate tools
• Present data and information effectively using the appropriate tools