Unit 19 Preparing personal taxation computations

19.1 Calculate income from employment

This is about calculating income from employment.

• Preparing salary calculations and benefits in kind information
• Identifying allowable expenses and deductions
• Making computations and completing returns
• Checking any income benefits allowable matches with policy (audit)
• Re-computing income and benefits (audit).

19.2 Calculate property and investment income

This is about calculating property and investment income.

• Preparing schedules of dividends and interest received
• Preparing schedules of property income and determining any profits or losses
• Applying deductions and reliefs
• Preparing computation and producing returns
• Checking compliance with applied property and investment income policies (audit)
• Re-computing property and investment income (audit).

This is about preparing tax returns for a client’s earned and unearned income.

• Listing income received from different sources
• Identifying and deducting charges and allowances
• Re-computing tax return (audit).

This is about making capital gains tax calculations.

• Identifying and valuing chargeable personal assets and shares disposed of
• Calculating capital gains tax liability and making returns
• Compliance testing for applied capital gains tax policy (audit)
• Re-computing capital gains (audit).