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MindMap Gallery ACCA subject F6 tax management

ACCA subject F6 tax management

Taxation management acca f6, taxation management is a management activity in which enterprises conduct self-control and supervision based on the Tax Administration Law and its relevant regulations and based on their own production, operations and tax obligations. It is an important part of corporate taxation activities. Friends who like it can give it a like!

Edited at 2019-09-04 15:01:08

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ACCA subject F6 tax management

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Outline

Tax management

11.income tax administration

tax return

paper

19.10.31

online

20.1.31

Revise

21.1.31

fine

late

0-3 100 3-6 10/day,90days max 6-12 5% of payable min300 >12 additional 5% 70% 100%, min300

mistake

% of underreported tax

notify

unpaid tax %

keep

not in bu

1.31 after tax year, then 1 year 2021.1.31

inbu

1.31 after the tax year, and another 5 years 2025.1.31

pay taxes

poa1

2019.1.31

(17/18payable class4)/2

poa2

2019.7.31

(17/18payable class4)/2

2020.1.31

balance class2/CGT

Summarize

taxpayable class 4<1000/ More than 80% of tax was withheld and paid on 17/18——0

17/18<18/19_____17/18

17/18>18/19_____18/19

interest and penalty late

poa-interest

*3% due

bp—interest, penalty

<1month nil 1-6 5% 6-12 10% >12 15%

tax refund

4 years

HMRC power

income tax

trading loss set against general income Claim before 2021.1.31

paye

forms

P60

Give employees taxable/income tax/NIC 5.31 Next tax year

P11D

Benefits to HMRC and employees 7.6 Next tax year

P45

leaving

nic

class a 2019.7.22

corporate administration

notification

12 months after AP ends

return

later

12 months after the relevant accounting period

3 months after notice

late return penalty

fixed

1-3 100 (>3months X 5) 3-6 200 6-12 200 10% >12 200 20%

geared

keeping record

6 years after AP ends

payment

small and medium

After AP, 9 months and 1 day Once a year

large

taxable total profit dividend received from 51%=augmented profit > threshold=150w*n/12/(no.of 51% 1) end of the previous period

by quarter

CIT*3/n

AP=12m

7/10/13/16-14th

AP<12M

7/10/13/16-14th

final installment

14 months after the start of the next AP 14th

stipulated date VS termination date

stipulation=termination=3/n

Not equal to, stipulates 3/12, terminates balance

interest penalty interest

Mistake, penalty

What is received is counted as income - the tax bureau made a mistake

vat

return,payment

Pay once every quarter

online

Submit, the relevant quarter ends on January 7th

default surcharge (Returns and tax payments are late)

charge period notice--the relevant tax year after one year

Made another mistake midterm Extended one year after the current period Fine 2, 5, 10, 15 within the surcharge period 2.5 <400 10.20 Minimum 30

small business

cash accounting

cash basis

condition

In the next 12 months, taxable sales, excluding tax, shall not exceed 135w.

No more than 1.6 million in the past 12 months

advantage

Bad debt input deduction output

No output will be paid if no money is collected, and the cash flow is good

disadvantage

It’s not good to buy things. You have to pay for input.

annual accounting

Only declare once poa 9 times 10% of the previous year bp balance annual vat return

condition

In the next 12 months, taxable sales, excluding tax, shall not exceed 135w.

No more than 1.6 million in the past 12 months

advantage

defaultsurchargeavoided

more accurately

disadvantage

The time of paying taxes and generating sales is irrelevant

flat rate

%*Total sales including tax Only focus on sellers

condition

In the next 12 months, taxable sales excluding tax shall not exceed 150,000 Excluding tax

No more than 23w in the past 12 months (minus long-term asset sales) tax included

1% discount first year

iht

pay taxes

lifetime

Night

4.30 at the end of the tax year in which clt is located

6 months after the end of the month of transfer

addition clt, pet are paid by the recipient, 7 aunts and 8 aunts.

Six months after the end of the month when the transferor died

death personal representative

morning

Six months after the end of the month when the transferor died

The personal representative submits the list to the tax bureau

cgt

depreciation assets (life<60)

Tax time, earliest

New assets sold - same as normal

New assets are not used for trade purposes

10 years after the new asset is purchased

Apply late

4 years after the tax year in which the old asset is sold

4 years after the tax year in which the new asset is acquired

hold-over

Apply

Within 4 years after the transfer tax year Two people apply together

entrepreneur relief

2021.1.31