ICAB PL Business Planning: Taxation and Compliance study plan
ICAB PL Business Planning: Taxation and Compliance · Give each week a clear focus.
8 weeks · About 6 hours per week
Taxation of Individuals & Taxation of Companies and Corporate Groups
Map the individual and corporate tax computation skeletons from memory, then correct gaps against primary legislation
Compute taxable income for an individual with employment, property and investment income by hand
Compute a company's taxable profit starting from accounting profit, applying depreciation add-back and capital allowance deduction
Draft a one-page comparison of individual vs corporate treatment of the same income stream
Your checkpoint
Two fully worked computations (one individual, one company) with every adjustment annotated to its authority
Taxation of Individuals & Taxation of Companies and Corporate Groups
Apply the correct rate bands and reliefs to three individual scenarios with different income mixes
Compute corporation tax for a company with multiple income streams including chargeable gains
Identify and apply loss relief options available to individuals and to companies in distinct scenarios
Explain the tax effect of a director extracting profit as salary versus dividend with a numeric comparison
Your checkpoint
A decision table of profit-extraction routes with computed net cash for three extraction levels
Capital Gains and Capital Allowances & Taxation of Companies and Corporate Groups
Compute chargeable gains for individuals and companies on disposals of shares and property
Apply reliefs and exemptions available on business asset disposals and quantify the tax saved
Build a capital allowance schedule covering pooling, disposals and balancing adjustments
Reconcile a capital allowance computation to the tax computation it feeds
Your checkpoint
A capital allowance and chargeable gains working paper set that reconciles cleanly to two tax computations
Taxation of Companies and Corporate Groups & Taxation of Partnerships and Unincorporated Businesses
Compute group relief and the tax effect of transferring assets within a corporate group
Determine the tax treatment of partnership profits and partners' profit shares
Apply the correct basis of assessment for an unincorporated business in opening and closing periods
Compare incorporation versus remaining unincorporated with numbers
Your checkpoint
A group and partnership computation pack plus a one-page incorporation comparison memo
Indirect Taxes (VAT and Sales Tax) & International Taxation and Cross-Border Transactions
Compute VAT liability for a mixed-rate business including input tax recovery and partial exemption
Determine place of supply for three cross-border service and goods transactions
Apply withholding tax and double tax relief mechanics to a cross-border payment
Identify permanent establishment risk in a described fact pattern and state the consequence
Your checkpoint
A VAT return and a cross-border transaction memo with computed tax outcomes
Tax Planning, Ethics and Compliance & International Taxation and Cross-Border Transactions
Evaluate two tax planning arrangements against anti-avoidance and disclosure rules and state a conclusion
Draft the compliance calendar obligations for a company and an individual for one fiscal year
Identify professional ethics and conflict-of-interest issues in three short scenarios
Quantify the cost of late filing and late payment penalties in a given fact pattern
Your checkpoint
A compliance calendar plus an ethics and penalty analysis memo covering all four goals
Taxation of Individuals & Taxation of Companies and Corporate Groups & Capital Gains and Capital Allowances
Complete a full mixed-topic computation under timed conditions without notes
Diagnose every error made in the timed attempt and write the corrected rule for each
Re-derive from memory the reliefs and rates most frequently applied across individuals, companies and gains
Redo the timed computation to a materially higher accuracy
Your checkpoint
A timed mock computation with an error log showing the before and after scores
Taxation of Partnerships and Unincorporated Businesses & Indirect Taxes (VAT and Sales Tax) & International Taxation and Cross-Border Transactions & Tax Planning, Ethics and Compliance
Complete a second full timed mock covering the lighter domains
Convert every remaining error log entry into a flashcard and clear it
State the planning-versus-avoidance boundary in writing for two borderline arrangements
Confirm readiness by scoring the mock against the pass threshold
Your checkpoint
A second timed mock with a cleared error log and a final readiness scorecard
Milestones
Week 2: Can compute individual and corporate tax liability unaided and explain every adjustment made
Week 4: Can reconcile capital allowances and gains into a tax computation and explain group and partnership treatment without notes
Week 6: Can compute VAT and cross-border outcomes and produce a defensible ethics and compliance position
Week 8: Scores at or above the pass threshold on a full timed mock with an error log showing no repeated rule errors