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Chapter 2 – Income tax computation – ACCA Taxation FA2021 TX–UK lectures

2.1 Introduction to Income Tax Computation [88m]

2.2 Taxation of Non Savings Income [56m]

2.3 Taxation of Savings Income [52m]

2.4  Taxation of Non Savings, Savings and Dividend Income [65m]

2.5  Restriction of Personal Allowance [65m]

2.6 Deductions from Total Income, Gift Aid and Personal Pension Contributions [38m]

2.7 Tax Planning Style Questions [27m]

2.8 Child Benefit Income Tax Charge and Residence [52m]

Reader Interactions

Comments

  1. aahyan says

    December 10, 2022 at 8:03 am

    Hello
    In section 7 of ch. 2 is jointly owned assets. it mentioned the rules allow couples to rearrange the joint income / ownership. May I know the taxpayer can rearrange the % of ownership of each tax year?
    say, 2021/22 is 40:60 and 2022/23 is 30:70 ?

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  2. Brian998 says

    December 5, 2022 at 10:58 pm

    Thank you very much

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  3. jordanho94 says

    October 27, 2022 at 9:11 pm

    Hi,

    In section 2.5 video on example 15, the last few mins you mention that if it’s higher rate tax you only extend the basic rate limit by the gross gift aid value however in the example 15, it’s a higher tax rate but the rate’s were extended on both basic and higher rate’s?

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  4. sumayyahchowdhury says

    September 19, 2022 at 9:52 am

    thank you helped so much!

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  5. Abriks says

    August 26, 2022 at 6:43 pm

    Hi,
    In lecture video 2.5, example 14, must we always deduct the charity under gift aid system from the net income to access whether PA would be NIL or restricted?

    In a case where the Net income is 128,000 and the gross amount to charity is 8,000, which makes the ANI (128K-120K)= 120,000
    would the PA be restricted to (12570-10000)= 2,570? And what would be the figure of the net income in the Tax computation? Would it be 128,000 or 120,000?

    Like this…
    Net Income 128,000
    Less gross amt to charity (8,000)
    ANI 120,000
    PA. (2570)
    Taxable Income. 117,430

    Or the deduction of the amount paid to charity won’t be reflected in the computation like the way it was in example 14

    Like this…
    Total Income 128,000
    PA. (2570)
    Taxable Income. 125,430

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    • GLitchy says

      August 31, 2022 at 3:30 pm

      Your example will be similar to that in Example 14. Your personal allowance calculation is correct so the taxable income would be 125,430.

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  6. rushdy says

    August 19, 2022 at 6:53 am

    Thank you !! I go to a “Premium Provider” for this paper to keep me disciplined. However, I understand the information through this platform!

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  7. OlakunleFoly says

    August 5, 2022 at 1:12 pm

    This is TX-UK made simple. I love the presenter and his gestures, interesting to follow

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  8. liz.cush says

    July 31, 2022 at 1:07 pm

    I have just watched all these lectures, thank you so much, they are very helpful. Everything is explained very well, I understand this subject a lot better now

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  9. luvvy says

    July 23, 2022 at 1:25 pm

    This is so helpful, thank you soo very much for this.

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  10. kirti.mishra says

    July 18, 2022 at 1:54 pm

    Hello,
    on page 170, for example 2 in chapter 2, the total tax liability is 4,786 and not 4,796 as shown.

    Regards,
    Kirti

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  11. Ndianabasi says

    July 10, 2022 at 12:43 pm

    This is very detailed and easy to follow. Thank you for this, I deeply appreciate.

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