Tax
A comprehensive revision resource for the SQE1 tax course, covering business tax, property tax and inheritance tax
Assessment objectives
What is tax law about?
→ Introduction to tax law MIND MAP
Key definitions
Key legislation
Note on tax rates and calculations
Overview of income tax
→ Overview of income tax MIND MAP
Total taxable income
Personal allowance
Tax deducted at source
Non-savings income
→ Non-savings income MIND MAP
Savings income
→ Savings income MIND MAP
Dividend income
EXAMPLE: calculating income tax
Tax reliefs
Anti-avoidance provisions
Overview of capital gains tax
→ Overview of capital gains MIND MAP
Capital gains
Capital losses
Individuals: rates and reliefs
→ Holdover relief MIND MAP
Companies: corporation tax on capital gains
Rollover relief
→ Rollover relief MIND MAP
Anti-avoidance provisions
Overview of the taxation of companies
Introduction to the taxation of companies
→ Overview of the taxation of companies MIND MAP
Total taxable profits
Capital allowances
Trading losses
Chargeable gains
→ Chargeable gains MIND MAP
Capital losses
Payment of corporation tax
Paying interest on a loan
Close companies
→ Close companies MIND MAP
Anti-avoidance provisions
Summary: How Principles of Tax apply to the Business Law and Practice FLK
PRACTISE MCQs: Business tax
Overview of value added tax
Introduction to VAT
→ Introduction to VAT MIND MAP
How VAT works
→ How VAT works MIND MAP
VAT rates and types of supplies
VAT on property transactions
PRACTISE MCQs: VAT
Overview of stamp duties
→ Overview of stamp duties MIND MAP
Introduction to stamp duties
SDLT on freehold property
LTT on freehold property
SDLT on leasehold property
PRACTISE MCQs: Stamp duties
Overview of inheritance tax
→ Overview of inheritance tax MIND MAP
Introduction to inheritance tax
Calculating the estate
→ Calculating the estate MIND MAP
Business Property Relief
Inheritance tax rates
PRACTISE MCQs: Inheritance tax
Instructions
Tax MOCK EXAMS
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15 on-demand academic and skills courses, consolidating the core functioning legal knowledge required by the SRA into easily-digestible, bite-sized chunks
Thousands of MCQs, each with detailed explanations of why the answers are correct or incorrect.
Hundreds of animated videos to explain the more complex concepts in simple, engaging ways
Sophisticated mind maps and impactful tables to bring topics to life, and make them easier to remember
Three tiers of mock exams, including topic-specific, course-specific, and SQE-wide MCQ assessments
Insider insights into how concepts work in practice, concise definitions, and hundreds of worked examples, all colour-coded to support memorisation