Advanced Taxation

  • Skills Module and and first three papers of Professional module.
  • Skills Module and and first three papers of Professional module.

On successful completion of this paper candidates

should be able to:

A Apply further knowledge and understanding

of the UK tax system through the study of more

advanced topics within the taxes studied

previously and the study of stamp taxes

B Identify and evaluate the impact of relevant

taxes on various situations and courses of

action, including the interaction of taxes

C Provide advice on minimising and/or deferring

tax liabilities by the use of standard tax

planning measures

D Communicate with clients, HM Revenue and

Customs and other professionals in an

appropriate manner.

    • If you complete your Skills module, you may start your PROFESSIONAL module.

To apply relevant knowledge and skills and exercise professional judgement in providing relevant information and advice to individuals and businesses on the impact of the major taxes on financial decisions and situations.

A Knowledge and understanding of the UK tax

system through the study of more advanced

topics within the taxes studied previously and

the study of stamp taxes.

  1. Income and income tax liabilities in situations

involving further overseas aspects and in

relation to trusts, and the application of

additional exemptions and reliefs.

  1. Chargeable gains and capital gains tax

liabilities in situations involving further

overseas aspects and in relation to closely

related persons and trusts, and the application

of additional exemptions and reliefs.

  1. Inheritance tax in situations involving further

aspects of the scope of the tax and the

calculation of the liabilities arising, the

principles of valuation and the reliefs available,

transfers of property to and from trusts,

overseas aspects and further aspects of

administration.

  1. Corporation tax liabilities in situations involving

overseas and further group aspects and in

relation to special types of company, and the

application of additional exemptions and

reliefs.

  1. Stamp taxes
  2. Value added tax, tax administration and the

UK tax system

 

B The impact of relevant taxes on various

situations and courses of action, including the

interaction of taxes

  1. Taxes applicable to a given situation or course

of action and their impact.

  1. Alternative ways of achieving personal or

business outcomes may lead to different tax

consequences.

  1. Taxation effects of the financial decisions

made by businesses (corporate and

unincorporated) and by individuals.

  1. Tax advantages and/or disadvantages of

alternative courses of action.

  1. Statutory obligations imposed in a given

situation, including any time limits for action

and the implications of non-compliance.

 

 

 

 

C Minimising and/or deferring tax liabilities by

the use of standard tax planning measures

  1. Types of investment and other expenditure that

will result in a reduction in tax liabilities for an

individual and/or a business.

  1. Legitimate tax planning measures, by which

the tax liabilities arising from a particular

situation or course of action can be mitigated.

  1. The appropriateness of such investment,

expenditure or measures, given a particular

taxpayer’s circumstances or stated objectives.

  1. The mitigation of tax in the manner

recommended, by reference to numerical

analysis and/or reasoned argument.

  1. Ethical and professional issues arising from the

giving of tax planning advice.

  1. Current issues in taxation.

 

D Communicating with clients, HM Revenue and

Customs and other professionals

 

  1. Communication of advice, recommendations

and information in the required format.

  1. Presentation of written information, in language

appropriate to the purpose of the

communication and the intended recipient.

  1. Conclusions reached with relevant supporting

computations.

  1. Assumptions made or limitations in the

analysis provided, together with any

inadequacies in the information available

and/or additional information required to

provide a fuller analysis.

  1. Other non-tax factors that should be

considered.

  • ACCA P4 notes
  • ACCA P4 Practice Questions
  • ACCA P4 Revision
  • P4 Revision Mock Exam

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