ICAEW Principles of Taxation (ICAEW) study guide
ICAEW Principles of Taxation · Work through your exam, one topic at a time.
The ICAEW Principles of Taxation page on this site is a study hub for candidates preparing for the tax module within ICAEW's ACA qualification. ICAEW is the Institute of Chartered Accountants in England and Wales, and its ACA is a chartered accountancy qualification; the 'Welcome to ICAEW.com' page describes a career as an ICAEW Chartered Accountant as offering 'the opportunity to work in any organisation, in any sector, whatever your ambitions', and states that '98% of the best global brands rely on ICAEW Chartered Accountants'. The Principles of Taxation module is aimed at ACA students building the tax knowledge that underpins later, more advanced study and practical work. This page is independent and is not affiliated with, endorsed by, or operated by ICAEW. Important: when we retrieved the official Principles of Taxation syllabus page on 5 November 2026, it returned a 'Sorry, we can't find that page' error. We therefore could not verify the syllabus content, the assessment format, the number of questions, the duration, the pass mark, the fee, retake rules, or the validity period from the official source. Topics on this exam: Principles of Taxation. The ICAEW Principles of Taxation study guide has 1 section and about 395 words.
01Principles of Taxation: Foundations, Computations and Compliance
This section covers the Principles of Taxation domain: the building blocks the exam uses to test whether you can identify the right tax, period, taxpayer, taxable amount, rate and compliance date. Expect short computations and explanations across income tax, NIC, VAT and corporation tax. The UK individual tax year runs 6 April to 5 April; the corporation tax financial year runs 1 April to 31 March. VAT return periods are usually quarterly.
395 words, about 2 minMore study resources for ICAEW Principles of Taxation
- Practice questionsUnder the UK tax system, which body is responsible for the administration and collection of most taxes, including income tax and corporation tax?
- FlashcardsTax year (income tax). The period 6 April to the following 5 April for which income tax is charged.
- Cheat sheetTax is a compulsory levy imposed by statute; the annual Finance Act gives Parliament authority to impose income tax, corporation tax, capital gains tax, VAT and other charges for the year.
- Key termsTax year (UK). The twelve-month period used for UK income tax and capital gains tax, running from 6 April in one year to 5 April in the next.
- Study planMap the ICAEW Principles of Taxation syllabus into a one-page topic register covering income tax, national insurance, capital gains tax, inheritance tax, corporation tax and VAT.
- Common mistakesCandidates memorise 'gross income minus allowances equals taxable income' but then conflate the allowance with a tax credit, so they subtract 20% of the personal allowance from the tax bill, or double-count the allowance.
- Exam-day guideICAEW Principles of Taxation is a computer-based exam delivered at an ICAEW-approved test centre or, where permitted, by remote invigilation.