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ACCA TX（UK）考試公式歸納
ACCA英國(guó)稅法是大部分ACCA學(xué)員都會(huì)選擇的一門考試科目，因?yàn)橄噍^于中國(guó)稅法，英國(guó)稅法知識(shí)更加接近于國(guó)際會(huì)計(jì)準(zhǔn)則，能讓我們進(jìn)一步了解國(guó)際會(huì)計(jì)的行為規(guī)范，提升我們的國(guó)際會(huì)計(jì)視野。以下是正保會(huì)計(jì)網(wǎng)校給大家總結(jié)的常考公式，僅供大家學(xué)習(xí)參考。
1. Pro forma of corporation tax computation
￡
Tax adjusted trading profits X
Interest income X
Property Business profit X
Chargeable Gains X
Total profits X
Less: QCD (X)
TTP ( TTP x tax rate =corporation tax ) X
FII X
Augmented Profits (determine company size) X
If straddle financial year and tax rate different:
For small and large companies : CT Liability = TTP x ?/12 x tax rate
For medium companies: CT Liability = (TTP x tax rate – fraction x (UL-AP) x TTP/AP) x ?/12
2. Pro forma of tax adjusted trading profits
￡
Profit Before Taxation /(PBT) X
Add: ● Non-deductible expenditure (e.g. Depreciation) X
● Expenditure allowable for taxation purposes 0
Less: ● Income included in the accounts that is not taxable
as trading income (e.g. interest, rent, disposal profit ) (X)
Less: Capital allowance (X)
Tax adjusted trading profit X
3. Pro forma of tax adjusted trading profits
￡ GP SRP SLA Allowance
WDV B/F X X X X
Additions:
Qualifying for AIA
Machinery X
AIA 100% (X) X X
Qualifying for FYA
Car X
FYA 100% (X) X
Qualifying for WDA
Machinery/car X X
Disposals: (X) (X)
X X X
Balancing allowance/charge (X) X
WDA 18% (X)
WDA 8% (X) X
WDV C/F X X X
Total allowance X
4. Property business income
Income | X | |
Less: allowable expense Repair and redecoration Cleaning Insurance Council tax paid by Landlord Advertising Agent fee Loan interest Bad debt Wear & Tear allowance | X X X X X X X X X | |
(X) | ||
Property business profit (accrual basis) | X |
Income = rent + taxable lease premium (P x (51-D)/50)
Wear & Tear allowance ( only for furnished letting ) :
W&T = 10%x (gross rent - council tax and water rate paid by land lord - bad debt)
5. Company chargeable gain
Computation Pro-forma:
Disposal proceeds X
Less: incidental cost of disposal (prof service, advertising, etc.) (X)
Net proceeds X
Less: allowable expenditure
-original cost (X)
-incidental cost on acquisition (X)
-improvement expenditure (X)
Unindexed gain X
Less: indexation allowance to disposal date
-original cost IA (X)
-incidental cost on acquisition IA (X)
-improvement expenditure IA (X)
Indexed gain X
Less: rollover relief (X)
Less: capital loss of current period (X)
Less: capital loss brought forward (X)
Chargeable gains (taken to TTP as separate source of income) X
Indexation allowance = cost x indexation factor
6. Company loss
Trading profit X
Less: trading loss brought forward (X)
X
Interest income X
Property business income X
Chargeable gain X
Total profits X
Less: current year loss relief (X)
Less: carry back relief (X)
Less: terminal loss relief (X)
Less: QCD (X)
TTP X
Income Tax
1. Pro-forma
Non-savings Savings Dividend Total
Income Income Income
￡ ￡ ￡ ￡
Trading profit X X
Employment income X X
Property business income X X
Savings(x100/80) X X
Dividends(x100/90) X X
Total income X X X X
Less: Interest Paid (X)1st (X)2nd (X)3rd (X)
Net Income X X X X
Less: personal allowance (10,000)1st (10,000)2nd (10,000)3rd (10,000)
Both basic and higher rate band are extended by:
--Gross personal pension contribution and
--Gross gift aid donation
Income Tax Liability (total income tax) X
Less: tax suffered at source
Dividends (X)
Sub-total X
Savings X
PAYE X
(X)
Income Tax Payable/repayment(tax paid via X/(X)
Self-assessment)
2. Tax adjusted trading profit
Profit per accounts X
Add back: ● Non-deductible expenditure (e.g. Depreciation) X
● Expenditure allowable for taxation purposes 0
● Taxable trading income not credited in the accounts X
Less: ● Expenditure not charged in the accounts but allowable
for the purposes of taxations (X)
●Income included in the accounts that is not taxable
as trading income (e.g. interest, rent, disposal profit ) (X)
Less: Capital allowance (X)
Tax adjusted trading profit X
3. Personal Allowances
· PA for those born on 6/4/1948 and after is ￡10,000.
· PA for those born between 6/4/1938 - 5/4/1948 is ￡10,500
· PA for those born before 6/4/1938 is ￡10,660
· If adjusted net income > 27,000
Higher PA X
Net income X
Less: Gross PPC (X)
Less: Gross GAD (X)
Adjusted net income X
Less: (27,000)
X
@ 50% (X)
Revised PA (min: ￡10,000) X
· If adjusted net income >100,000
Standard PA 10,000
Net income X
Less: Gross PPC (X)
Less: Gross GAD (X)
Adjusted net income X
Less: (100,000)
X
@ 50% (X)
Revised PA (min: Nil) X
4. Child benefit income tax charge
· If adjusted net income is between ￡50,000 and ￡60,000
Income tax charge = child benefit received x 1% x (ANI-50,000)/100
· If adjusted net income is more than ￡60,000
Income tax charge = child benefit received
5. Loss for individuals
Trading profit X
Less:trading loss b/f (X)
Less: terminal loss relief (X)
Employment income X
Property business income X
Saving income X
Dividend income X
Total income X
Less: interest paid (X)
Net income X
Less: trade loss against total income (X)
Less: earlier year’s loss relief (X)
Less: PA(may be wasted) (10,000)
Taxable income X
Capital Gain Tax
1. Proforma of CGT computations
Disposal proceeds （sale proceeds or MV if deal not at arm’s length) X
Less: incidental cost on disposal (auctioneer's/legal/estate agent fees, etc) (X)
Net proceeds X
Less: allowable expenditure
(cost, incidental cost on acquisition, improvement expenditure, etc) (X)
Capital gain X
Less: CGT relief：
-Rollover relief (X)
-Gift relief
-PPR relief
-Letting relief (X)
Less: current year capital loss (X)
Less: trading loss after set against total income of same period (X)
Less: capital loss brought forward (restricted to preserve AE) (X)
Chargeable Gain X
Less: Annual Exemption (￡11,000)
Taxable gain X
@Capital Gains Tax Rate 18% or 28%
Capital Gain Tax (CGT) X
2. Non-wasting chattel
Sale | ￡6,000 or less | More than ￡6,000 |
￡6,000 or less | Exempt | Allowable loss but proceeds are deemed to be ￡6,000 |
More than ￡6,000 | Capital gain is limited to 5/3 x (gross proceeds - ￡6,000) | Chargeable in full --normal calculation |
Inheritance Tax
1. The procedure to calculate the lifetime IHT on CLT
Step 1 chargeable amount of CLT or PET:
Value of estate before gift X
Value of estate after gift (X)
Transfer of value (or diminution in value) X
Less: exemptions:
Marriage exemption (X)
AE – current year (X)
AE – previous year b/f (X)
Chargeable amount X
Step 2 lifetime IHT:
Chargeable amount X
Nil rate band(NRB) at year of gift X
Less: Gross CLTs within 7 years of gift (X)
Nil rate band available (X)
Taxable amount X
Lifetime IHT at 20%(if gross gift) 25%(if net gift) X
If net gift, gross chargeable transfer = chargeable amount + IHT
2. Pro forma computation for death tax on lifetime gifts
Step1 start with the gross chargeable amount of any CLTs and PETs within 7 years of death per the lifetime tax calculation
Step2 death IHT is calculated for each gift within 7 years of death:
Gross CLT or PET per lifetime calculations X
Nil rate band at year of death X
Less: GCT within 7 years of gift (X)
Nil rate band available (X)
Taxable amount X
Death IHT at 40% X
Less: Taper relief (X)
Lifetime IHT paid (if any) (X)
IHT payable on death X
3. Pro forma death estate computation
Freehold property X
Less: repayment mortgage (X)
Business owned by sole trader/partnership X
Stocks and shares (including ISA) X
Government securities X
Insurance policy proceeds X
Leasehold property X
Motor cars X
Personal chattels X
Debts due to the deceased X
Interest and rent due to the deceased X
Cash and bank and on deposit (including ISA) X
X
Less: Debt due by the deceased (X)
Outstanding taxes(e.g. IT, CGT due) (X)
Funeral expenses (X)
X
Less: Spouse exemption (X)
Gross chargeable estate X
4. Pro forma computation for death tax on death estate:
Chargeable estate X
Nil rate band at year of death X
Less: GCT within 7 years of death (X)
Nil rate bands available (X)
Taxable amount X
IHT on the taxable amount at 40% X
——————————————
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