AAT Level 4 – Business Tax – FA24 (BNTA)

Mapped to the AAT Q2022 syllabus | Perfect for self-study or classroom use

AAT Level 4 - Business Tax Self Study Book

Our Business Tax study book offers structured, easy-to-follow explanations to help you master key concepts and prepare confidently for your AAT assessments.

This comprehensive guide uses clear language, practical examples, and helpful illustrations to walk you through each topic. It’s ideal for both classroom and independent study.

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Description

Description

This is an optional unit for the Level 4 Diploma in Professional Accounting.

In this unit, you will be introduced to UK taxation relevant to businesses, equipping you with the knowledge and skills to compute business taxes for sole traders, partnerships, and limited companies. Moreover, you will learn to identify tax planning opportunities while upholding the utmost ethical standards.

As you learn how to prepare tax computations, you will gain the necessary skills to apply the tax treatment of capital expenditure and adjust accounting profits for tax purposes. This will include allocating profits to tax years for ongoing businesses, as well as in opening and closing years. Additionally, you will become proficient in allocating profits between partners in a partnership and calculating National Insurance (NI) contributions for the self-employed. You will be well-prepared to advise clients on the tax implications of making losses.

An in-depth understanding of the administrative requirements of UK tax law will be emphasized, covering implications of errors in tax returns, late filing of returns, late payment of tax, and the importance of retaining records for the required period. Additionally, you will gain the expertise to compute tax on the sale of capital assets by companies, while comprehending the capital gains implications of selling a business and the available tax reliefs for businesses.

Recognizing the significance of tax advice in various accountancy roles, you will explore tax planning opportunities for businesses. Ethical considerations faced by business owners and managers in reporting their business tax will be discussed, and you will understand the responsibilities that an agent has in providing tax advice to business clients. Upholding ethical standards while providing tax guidance will be at the forefront of your training.

Overall, this unit will equip you with the essential knowledge and skills to navigate UK taxation as it relates to businesses, enabling you to excel in your accountancy roles and provide valuable tax advice to clients.

Who Is This Book For?

Students studying AAT Level 4 Accounting
Anyone preparing for the Business Tax (BNTA) assessment

What You’ll Learn

Prepare tax computations for sole traders and partnerships
Prepare tax computations for limited companies
Prepare tax computations for the sale of capital assets by limited companies
Understand the administrative requirements of the UK’s tax regime
Understand the tax implications of business disposals
Understand tax reliefs, tax planning opportunities and agent’s responsibilities in reporting taxation to HM Revenue & Customs

What’s Inside

Chapter 1: Underpinning knowledge of the tax framework
Chapter 2: Adjustment of trading profits
Chapter 3: The nature and purpose of capital allowances
Chapter 4: Capital allowance differences for unincorporated businesses
Chapter 5: Taxable profits chargeable for incorporated businesses
Chapter 6: Profits, losses and NICs for unincorporated businesses
Chapter 7: Chargeable gains and allowable losses for incorporated Businesses
Chapter 8: Business disposals and capital gains for sole traders/partnerships
Chapter 9: Trading losses
Chapter 10: Administrative requirements of the UK’s tax regime
Mock Exam
Taxation references 24/25
Glossary
Activity Answers
Mock Exam Answers

Practice questions and assessment-style tasks throughout.

What’s Included

Printed book (includes a mock exam)
Free access to our online portal which includes:
- Electronic version of your study book
- Auto-marked assessments – instant feedback
- 1 additional mock exam in the online portal