Principles of Tax - Introduction

Shona Howard
Tutor and Subject Matter Expert
BPP Professional Education

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 Principles of Tax

• Introduction to the paper

• Syllabus

• Exam format

• Study tips

• Revision tips

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 Principles of Tax

• Shona Howard BSc (Joint Hons) ACA

• BPP Tutor and Subject Matter Expert
• Trained with Deloittes in London
• Worked for BPP in Bristol and London since 1999
• Now BPP’s Subject Manager for Principles of Tax

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 BPP’s online classroom (OCR)

• OCR students are studying from around the world – our

student base is spread over 70 countries

• Access to pre-recorded lectures and learning activities, (listen

again, learn at a time and pace which suits you)

• Achievement Ladder steps – test your learning as you

progress through the syllabus

• Feedback and guidance to help you get ‘exam ready’

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 Principles of Taxation in the
ICAEW qualifications

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 Principles of Tax - syllabus
1 Objectives, types of tax and ethics 10%

2 Administration of taxation 20%

3 Income tax and national insurance contributions 26%

4 Capital gains tax and chargeable gains 10%

for companies

5 Corporation tax 14%

6 VAT 20%
100%

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 100 marks

2 x scenario-based questions 40 Multiple choice questions

2 x 10 marks each 40 x 2 marks each
Single and 1\2 marks available Score 2 marks or 0

1 x income tax and NICs Whole syllabus

1 x corporation tax 1.8 minutes each
9 minutes each

= 20% = 80%
Computer–based exam
Pass mark = 55%

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 How to study?

• Time commitment – equivalent of roughly 2 weeks full time

• Switch off distractions
• Access material in the correct Finance Act!
• - Exams up to 31 March 2017 = FA15
• - Exams 01 April 2017 up to 31 December 2017 = FA16
• - Exams in 2018 = FA17 etc.
• Check through ICAEW errata
• Learn, then PRACTICE!
• - expect to work through the entire question bank (x2 or x3!)

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 How to revise?

• Realistic timetable
• Practice Practice Practice!
• - long questions
• - sample exams
• - to time
• - in computer-based assessment format
• - review thoroughly – knowledge/skills?
• Cover whole syllabus including VAT and admin!
• Don’t get bogged down in tricky areas
• Prepare for the exam with a good night’s sleep beforehand
• Four attempts permitted

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 Exam support from ICAEW

• For each exam module, there is:

• Syllabus
• Sample questions / practice exams
• Video demonstration (of long-form questions)
• Study guide – puts your learning in context
• Exam webinar (like this one for each module)
• Errata sheets – if applicable

• ICAEW CFAB students: icaew.com/cfabstudyresources

• ACA students: icaew.com/examresources

• icaew.com/studentcommunity – get feedback and advice from other

students around the world / find a study buddy

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 ICAEW learning materials

• Learning materials are updated every year, so always use the

correct edition for the module you are studying.

• Learning materials for 2017 exams are available from October

2016. Learning materials for 2018 are available from Sept 2017
etc.

• Don’t use old editions of learning materials.

• Available to buy from Gillards at www.gillards.com/icaew

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and finance profession

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