VAT is normally examined for about 10 marks yet is neglected by students preparing for their tax exams. This podcast will give you an overview on what VAT is. 

Single company losses feature in every tax exam and is a relatively easy area to master . Listen to this podcast to ensure you get this right in the exam 

Every tax exam will have a couple of marks on national insurance thrown in. These are relatively straightforward as there is not a lot to learn on this topic. This short podcast literally covers everything you need to know on social security tax in the UK 

Inheritance tax is usually the tax on which students perform the worst in the exam as it is a niche area that most tax students have not encountered. In this podcast, I have explained both lifetime gifts and the death estate in a simple way that will enable you to grasp this important tax. 

When looking at income tax it is important to understand how to use losses. Apart from continuing sole traders there is also special loss relief available in opening and closing years. 

This podcast summarises the essential corp tax knowledge you need to compute the corporation tax for a single company bringing in interest receivable, rental profits and chargeable gains . 

One of the fundamental aspects to understand in tax is adjustment of profits . In any of the starting tax papers you will have to adjust accounting profits to give you taxable profits . This episode explains the methodology behind this important area 

In this podcast , I explain all the different tax implications of contributing into both occupational and personal pensions . This is a method for individuals to reduce their tax liabilities and very popular in the tax exams. 

Partnerships are unincorporated businesses so the normal sole trader rules apply. In most of the tax teaching courses , we do not have time to cover partnerships and this is allocated as a self study area so this podcast will help reinforce your understanding of this popular topic. 

Many tax students get confused about the VAT implications of land and buildings . In this episode , I explain the tax implications in a simple way and in particular help you understand the option to tax. 

In this episode I explain how to deal with the CGT Variations such as NG/NL, part disposals , leases, chattels and insurance compensation. 

In most tax exams , you will be asked to compute the death estate and the inheritance tax due. This podcast explains how to do this in simple steps. 

It is crucially important to work out an individual's domicile as UK domiciled individuals are subject to inheritance tax on their worldwide assets while non-UK domiciled individuals only pay IHT on their UK assets. With income tax and CGT, non UK domiciled individuals can make the remittance election. 

As tax advisors, it is important to advice clients which benefits can be offered to staff that are tax free as these will incentivize staff without attracting a tax liability. 

Many UK companies were buying companies that had large pre-acquisition trading and capital losses . To stop them utilizing the pre-acquisition losses HMRC introduced anti-avoidance rules. 

Partial exemption is an area many tax students struggle with. It simply relates to the sales mix of a business that sells both taxable and exempt sales . If the VAT relating to the exempt sales is small then it can be claimed back. 

BAD relief is the new entrepreneur's relief and is a very popular area in all tax exams. It is available on business assets owned for 2 years 

There are 3 inheritance tax exemptions which are available for both lifetime gifts and the death estate . In this podcast , Neil explains there different scenarios in which an inheritance tax liability arises. He then clearly explains how the 3 important tax free exemptions work and how to maximize the tax benefit 

The EIS provides lucrative tax benefits to wealthy investors or business angels who are prepared to invest in small unquoted trading companies . These investors can reduce both their income tax and capital gains tax liabilities substantially . In this podcast , Neil explains the conditions that should be satisfied as well as the amazing tax benefits available. 

When a business starts trading , an important area to consider is when the business should register for VAT. In this podcast Neil explains the difference between voluntary and compulsory VAT registration  and the various advantages and disadvantages . In addition, we also consider the implications of VAT deregistration. 

HMRC have an exemption of £30,000 available for termination payments while certain payments may be either fully exempt and fully taxable. In this episode, Neil explains the key criteria you should use in deciding the correct tax treatment of termination payments 

The degrouping charge is a technical topic and and arises after a nil gain/ nil loss transfer within a 75% CGT group. In this podcast , Neil explains how to compute the DGC and when it arises . The other associated area with this is the substantial shareholding exemption and if the SSE conditions are satisfied , the DGC becomes tax free. 

Personal Service Companies is a very topical area now as HMRC is implementing IR-35 legislation in all sectors of the economy. When taking on a contractor , the end-client is now held responsible for ensuring that the client is IR-35 compliant. In this podcast , Neil explains now the deemed salary is computed and the tests HMRC use. 

In this podcast , I have explained how the principal private residence exemption works and the associated letting relief. This is a very popular area for the exam and one of the main tax breaks available in the UK.