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Hello sir,
I made this tax mapping. Is it right or am I missing something? Thank you in advance.UK Taxes
1) Personal Tax
a) Income Tax
i) Employment Income
ii) Self-employment Income
iii) Trading profit
b) Investment Income tax
i) Interest Income
ii) Divident Income
iii) Property Income
c) NIC’s
i) Employment or self-employment income
1. Employee’s NIC’s
2. Employer’s NIC’s
3. Self-employed NIC’s
d) Inheritance Tax
e) Chargeable Gains Income tax
2) Corporate Tax
Single companies or Group of companies
a) Tax on WW income and gains-Taxable total profit
i) Trading Income
ii) Property Income
iii) Interest Income
iv) Chargeable Gains Income
b) VATMay I respectfully suggest that the above is an unnecessary exercise of mostly listing out the taxes within the syllabus, dealt with in the introductory lecture – I would strongly advise using your time to study the OT notes and lectures (as they become available) to learn what is within those notes provided for you, rather than making more notes whether they be overview or detailed chapter notes.
Good luck with your studies
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