This class was created by Brainscape user Grace Kunzler. Visit their profile to learn more about the creator.
By:
Grace Kunzler
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Decks in this class (18)
IHT
Define transfer of value 1,
Define diminution in value 2,
Define a discretionary trust 3
28
cards
Death Estate and valuation
Does death estate include anythin...,
Who pays tax on the death estate 2,
Assets that pass to are exempt fr...
34
cards
Income Tax
Personal representative 1,
Chargeable exempt employment inco...,
Chargeable exempt trading income 3
47
cards
Property Income
Property allowance 1,
If property receipts are 150 000 ...,
If property receipts are 150 000 ...
20
cards
Pensions
Occupational pension scheme 1,
Earnings related occupational pen...,
Investment related occupational p...
21
cards
Employment Income
General earnings are taxed on 1,
General earnings of money are tre...,
If recipient director general ear...
69
cards
Trading Income
Badges of trade profit seeking mo...,
Badges of trade number of transac...,
Badges of trade nature of the ass...
56
cards
Capital Allowances
Assets are considered to be plant...,
Classified as plant 2,
Classified as plant 3
70
cards
Unincorporated trader losses
When does a trading loss arise 1,
Main consequences of trading loss 2,
If trading loss arises in period ...
23
cards
Partnerships
Notional loss 1,
Notional profit 2,
Limited liability partnership def...
5
cards
Cash basis of accounting
Which business can use cash basis 1,
When must a trader leave cash bas...,
When can a trader leave cash basis 3
33
cards
CGT
Chargeable person not 1,
Chargeable person not 2,
Chargeable person not 3
51
cards
CGT reliefs
Rollover relief 1,
Rollover relief qualifying busine...,
Rollover relief qualifying busine...
41
cards
Overseas aspects of IT and CGT
A person acquires domicile at 1,
A person retains their acquired d...,
Person can be deemed domicile if ...
30
cards
Question Practice
Vat on services incurred before r...,
Vat on goods can be recovered on ...,
Is vat on entertaining suppliers ...
51
cards
VAT
Define exempt supplies 1,
Can a person making only exempt s...,
Taxable supply definition 3
51
cards
Important allow/disallow etc
Exempt taxable income 1,
Exempt taxable income 2,
Exempt taxable income 3
173
cards
Cash / accruals basis
Cash basis what to do with capita...,
Cash basis can fix rate expenses ...,
Cash basis what is the maximum de...
8
cards
More about
TC
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