UK Tax Environment : Assignment
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Added on 2020-07-23
UK Tax Environment : Assignment
Added on 2020-07-23
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TAXATION
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Describe the UK tax environment..........................................................................................11.2 Analyze the roles and responsibilities of the tax practitioners...............................................31.3 Explain the taxation obligations of the taxpayers or their agents and implications of non-compliances..................................................................................................................................5TASK 2............................................................................................................................................62.1 Calculation of relevant income, expenses and allowances....................................................62.2 Calculations of taxable amount..............................................................................................72.3 Calculations of complete relevant documentations and tax returns.......................................9TASK 3..........................................................................................................................................113.1 Calculations of chargeable profits for the company............................................................113.2 Calculations of tax liabilities of the company......................................................................113.3 Explain how income taxation deductions deals...................................................................124.1 Identifying chargeable assets...............................................................................................134.2 Calculate capital gains and losses........................................................................................144.3 Calculate capital gains tax payable......................................................................................15CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
Table of FiguresFigure 1 Parties Involved in UK tax environment...........................................................................4Figure 2 Expected taxable revenue in UK for 2017/18...................................................................5Index of tablesYTable 1 Calculation of chargeable capital gain for Elsie for year 2016/17...................................12Table 2 Calculation of CGT payable by Elsie for 2016/17...........................................................13
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