To develop knowledge and skills relating to the tax system as applicable to individuals, single companies, and groups of companies.
On successful completion of this paper candidates should be able to:
A Explain the operation and scope of the tax system and the obligations of tax payers and/or their agents and the implications of non-compliance
B Explain and compute the income tax liabilities of individuals and the effect of national insurance contributions (NIC) on employees, employers and the self employed
C Explain and compute the chargeable gains arising on individuals
D Explain and compute the inheritance tax liabilities of individuals
E Explain and compute the corporation tax liabilities of individual companies and groups of companies
F Explain and compute the effects of value added tax on incorporated and unincorporated businesses