ACCA TX (Taxation - UK) Questions for Practice - (2) Income Tax and NIC Liabilities

In Section B of the syllabus, the requirement is to explain and compute the income tax liabilities of individuals and the effect of national insurance contributions (NIC) on employees, employers and the self-employed:

1. The scope of income tax

2. Income from employment

3. Income from self-employment

4. Property and investment income

5. The comprehensive computation of taxable income and income tax liability

6. National insurance contributions for employed and self-employed persons

7. The use of exemptions and reliefs in deferring and minimising income tax liabilities

It is expected to spend approximately 20 minutes to complete.

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