1.1 Describe the UK tax environment

Assignment Front Sheet

Assignment title

TAX1: Tax Environment and Personal Tax Liability (1 of 2)

In this assessment you will have opportunities to provide evidence against the following criteria. Indicate the page numbers where the evidence can be found.

 

Learning Outcome

Learning outcome

Assessment Criteria

In this assessment you will have the opportunity to present evidence that shows you are able to:

Task no.

Evidence

(Page no)

LO1

Understand the duties

and responsibilities of

the tax practitioner in

the UK tax

environment

1.1

Describe the UK tax environment

1

 

1.2

Analyse the role and responsibilities of the tax

practitioner

1

 

1.3

Explain the tax obligations of tax payers or their agents and the implications of non-compliance

1

 

LO2

Be able to calculate

personal tax liabilities

for individuals and

partnerships

2.1

Calculate relevant income, expenses and allowances

2

 

2.2

Calculate taxable amounts and tax payable for employed and self employed individuals and payment dates

2

 

2.3

Complete relevant documentation and tax

returns

2

 

 

Student declaration

I certify that the work submitted for this assignment is my own. I have clearly referenced any sources used in the work. I understand that false declaration is a form of malpractice.

 

Student signature:                                                                           Date:

 


 

In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades

Grade Descriptor

Indicative characteristic/s

Contextualisation

M1 Identify and apply strategies to find appropriate solutions

An effective approach to study and research has been applied.

To achieve M1, you will have applied an effective approach to study and research on the UK tax environment.

 

(Task 1)

M2 Select / design and apply appropriate methods / techniques

Relevant theories and techniques have been applied.

To achieve M2, you will have applied relevant theories to explain the tax obligations of tax payers or their agents and the implications of non-compliance.

 

(Task 1)

 

M3 Present and communicate appropriate findings

Communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used.

To achieve M3, the work you present will be presented in suitable business formats and will use accounting/taxation terminology accurately. 

 

(Tasks 1 & 2)

 

D1 Use critical reflection to evaluate own work and justify valid conclusions

Conclusions have been arrived at through synthesis of ideas and have been justified.

To achieve D1, you will have drawn and justified conclusions about the taxable amounts and tax payable for employed and self employed individuals and payment dates.

 

(Task 2)

 

D2 Take responsibility for managing and organising activities

Activities have been managed.

To achieve D2, you will have demonstrated an effective approach to independent research and study and will have met the deadline to submit the tasks and achieve the unit assessment criteria.

 

(Tasks 1 & 2)

 

D3 Demonstrate convergent / lateral /  creative thinking

 

 

 

Introduction

The UK taxation system has many different types of taxes, some are direct taxes and other is indirect taxes.

The direct tax includes: income tax, corporation tax, capital gain tax, and inheritance tax.

The indirect tax: value added tax.

Through this research, the Mr and Mrs Joe Zic can get more information about the tax system in the UK. I have analyzed all the information relating to the tax system in the UK and make it clear to help them know how to pay taxes, deadline to pay taxes and penalties. For Mr and Mrs Joe Zic, they will be able to understand more about the tax system in the UK and it can help them make the right decision in the UK. Besides, I also calculated the relevant information to Mr and Mrs Joe Zic to support them in the tax obligation for the UK government.

 


 

Table of Contents

Introduction. 3

Part 1. 5

1.1 Describe the UK tax environment. 5

1.1.1 Describe the main purposes of UK taxation. 5

1.1.2 Discuss the types of tax in UK, and direct and indirect taxation. 5

1.1.3 Tax Evasion and Tax Avoidance. 10

1.1.4 Self –assessment 10

1.2 Analyze the role and responsibilities of a tax practitioner. 12

1.2.1 The roles of the tax practitioners. 12

2) Responsibilities of the tax practitioners 12

1.3 Explains the tax obligations of tax payers or their agents and the implications of non-compliance. 13

1.3.1 The tax obligation of tax payers 13

1.3.2 Implications of non-compliances 13

Part 2. 15

2.1 -2.1 Calculate relevant income, expenses and allowances and Calculate taxable amounts and tax payable for employed and self-employed individuals and payment dates 15

2.3. Complete relevant documentation and tax returns (HMRC form for relevant documents)