The income tax proforma
You'll learn how to construct and navigate the income tax proforma—a key framework for calculating tax liabilities in ATX. This session revises the proforma structure you encountered in Taxation, then introduces new income types (trusts, overseas income, and property) that appear at this advanced level.
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In this lesson
- 0:00 Income tax pro forma overview
- 1:08 Employment, trade and trust income
- 2:31 Property income and reliefs
- 3:46 Personal allowance positioning
- 4:00 Taxing non-savings and savings income
- 5:00 Dividend income tax rates
- 5:42 Tax reducers and reliefs explained
- 7:25 Income tax liability versus payable
- 8:18 Advanced taxation context and approach
About this lesson
You'll discover how to categorise different income streams across non-savings, savings, and dividend columns, apply the correct tax rates and allowances, and understand when to use tax reducers like marriage allowance and double taxation relief. By the end, you'll be confident structuring income tax computations efficiently and know when to stop at liability versus payable—essential skills for handling client tax planning scenarios in your ATX work.
Duration: 9m
Transcript
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