Middlesex University (MDX)

Describe the influence of accounting principles on profits chargeable to corporation tax. Determine the corporation tax treatment of non-trading income. Compute debits and credits which arise on loan relationships. Compute instalments of corporation tax Compute the chargeable gains of companies Implement relief for R&D Compute relief for lease premiums

Describe the objectives of taxation and the principles of an ‘ideal’ tax. · Appreciate the macro-economic context in which the government makes revenue-raising decisions. · Describe the Chancellor’s objectives for the forthcoming fiscal year. · Reflect changes proposed in your analysis of tax problems. · Identify and analyse ethical issues relating to tax advice. · Distinguish between tax avoidance and tax evasion

Describe the scope of corporation tax. · Identify relevant accounting periods. · Compute the indexation allowance for chargeable gains · Compute profits chargeable to corporation tax. · Identify financial years and compute the corporation tax liability of a company. · Describe the obligation of a company under corporation tax self-assessment. · Explain the consequences of failure to comply.

Use statute and case law to explain the meaning of plant and machinery. Compute capital allowances on expenditure on plant and machinery Compute capital allowances on structures and buildings

Apply the basis of assessment for trading income. Compute ‘overlap profits’ and show how relief is obtained. Calculate the effect of a change of accounting date. Show how adjustments to an income statement can produce a loss. Identify the forms of relief for trading losses and compute assessments after loss relief. Advise a taxpayer on the optimum use of losses. Advise on the income tax consequences of starting up in business.

· Describe the principles of partnership taxation · Adjust and allocate partnership profits and losses · Deal with notional losses · Give effect to changes in partnership composition · Comment on the role of partnerships in tax planning · Describe the basic principles of the taxation of an LLP. · Restrictions on loss relief

· Apply the ‘badges of trade’ to determine whether a transaction is a trading activity. · Describe the scope of taxation of trading income. · Determine the tax consequences of consumption of own goods. · Explain and apply the ‘capital v. revenue’ principle. · Adjust a profit and loss account to arrive at trading profits · Explain, by reference to statute and case law, the reasons for making adjustments to the profit and loss account. · Compute self-employed Natio...

Identify chargeable and non-chargeable assets for the purposes of capital gains tax. Compute the chargeable gains of an individual taxpayer. Apply for the annual exemption and advise on its efficient use by husband and wife living together. Compute capital gains tax liabilities. Describe the major reliefs and exemptions.

Compute the profits of a property income business. Describe the treatment of property income losses. Determine the tax treatment of interest and dividends. Identify sources of income which are not subject to tax. Compute the tax treatment of lease premiums.

This document provides a 450-word investment analysis of the global telecommunications company Vodafone. It gives an overview of Vodafone's business operations and geographic footprint. Financial indicators such as revenue, operating profit, ROCE, current ratio, gearing ratio and EPS are evaluated to determine investment suitability. Vodafone's strategic goals to become a next-generation connectivity and digital services provider are also assessed. Analysis concludes that while certain financi...