F6 TX | Exam Kit - BPP

What is F6 Taxation (TX)?

Taxation - The United Kingdom (TX-UK) introduces tax candidates and provides a core understanding of the underlying principles and key technical areas of taxation, as they affect the activities of individuals and businesses.

Syllabus of F6 Taxation (TX-UK)

The objective of the syllabus is to enhance the knowledge and skills relevant to individuals, individual companies and groups of companies relating to the tax system.

Candidates are introduced to the rationale behind the tax system and the functions of it. The syllabus then takes into account the separate taxes that an accountant would need to have in-depth knowledge of for example, self-employment, employment and investment income tax, corporation tax liability of individual companies and groups of companies, national insurance contribution liabilities of both employed and self-employed individuals, corporation value added tax liability, taxable gains.

Candidates should be able to calculate tax liabilities, explain the basis of their calculations, apply individuals and businesses to tax planning techniques, and identify compliance issues for each major tax through a variety of business and personal scenarios and situations after the core areas of the basic taxes have been covered.

In planning for and taking the examination, Section G of the syllabus includes outcomes relating to the demonstration of relevant digital and employability skills. This involves being capable of communicating with various types of question types, manage information presented in digital format, and be able to plan and present response options in a professional way using the appropriate functionality and technology.

These skills are developed primarily by practicing and preparing for the exam, using the computer-based exam learning support material available via the practice platform and the ACCA website, and will need to be demonstrated during the live exam.

Main capabilities

To Completion the exam successfully, candidates should be able to:

• Explain the operation and scope of the tax system and the obligations and consequences of non-compliance of tax payers and/or their agents
• Explain and calculate individuals' income tax liabilities and the impact of national insurance contributions (NICs) on workers, employers and self-employed workers.
• Explain and calculate the taxable gains for individuals
• Explain and compute individuals' inheritance tax liabilities
• Explain and calculate individual companies and groups of companies' corporate tax liabilities
• Explain and calculate the effects on incorporated and unincorporated businesses of value added tax