Technical articles

Finance Act 2022
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
This article summarises the changes made by the UK Finance Act 2022.

Adjustment of profit
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
This article looks at approaching questions on adjustment of profit.

Higher skills
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
You can expect to see exam questions that focus on higher skills. Typically, such a question will cover more than one syllabus area or more than one tax, bridging the gap between TX-UK and ATX-UK.

Benefits
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
Benefits feature regularly in the exam, and this article mainly covers those aspects of benefits that have been examined in previous sittings.

Chargeable gains, part 1
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
This article looks at chargeable gains in either a personal or corporate context.

Chargeable gains, part 2
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
The second of a two-part article focuses on shares, reliefs, and the way in which gains made by limited companies are taxed.

Groups
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
It is important that TX-UK candidates know the group relationship that must exist for reliefs to be available. Working through the examples in this article will prepare you for anything that could be set in the exam.

Inheritance tax, part 1
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
The article considers the scope of inheritance tax, transfers of value, rates of tax and exemptions.

Inheritance tax, part 2
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
The second of a two-part article covers the more difficult aspects of lifetime transfers, the calculation of the value of a person’s estate, and the payment of inheritance tax. It also includes an example of an exam standard question, plus a test of your understanding.

Cars
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
Cars have featured in every TX-UK exam that has been set to date, which is not surprising given that acquiring, running, or having the use of a car can have income tax, corporation tax, value added tax (VAT) or national insurance contribution (NIC) implications.

Value added tax, part 1
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
TX-UK will always contain a minimum of 10 marks on value added tax (VAT). Among the areas discussed in the article are VAT registration and deregistration, and output and input VAT.

Value added tax, part 2
Relevant to those sitting TX-UK in June, September or December 2023 or March 2024
The second of a two-part article covers VAT returns, VAT invoices, penalties, overseas aspects of VAT, and special VAT schemes, plus a test of your understanding.

Personal allowances
Relevant to TX-CYP
It is important that candidates ensure that they appreciate the difference between allowable expenses and personal expenses as part of their preparation to sit the TX-CYP exam.

Czech tax administration
Relevant to TX-CZE
This article is relevant for candidates sitting the TX-CZE exam. Candidates are advised to read this article in conjunction with the syllabus and study guide and examinable documents, which are relevant for the exam session they are preparing for.

Refund of Czech VAT to foreign tourists
Relevant to TX-CZE
This article looks at the process of refunding Czech VAT to visitors from outside the European Community (EC). It briefly explains the main conditions that have to be fulfilled to apply for a VAT refund, and covers the administration process.

The pitfalls of interest deduction claims by corporate taxpayers
Relevant to TX-HKG and ATX-HKG
This article is relevant to candidates preparing to sit TX-HKG and ATX-HKG. It aims to explain, in layman terms as far as possible, the Hong Kong tax rules and practice surrounding the claims for interest deductions by corporate taxpayers. It should be read in conjunction with The pitfalls of interest deduction claims by individual taxpayers.

The pitfalls of interest deduction claims by individual taxpayers
Relevant to TX-HKG and ATX-HKG
This article is relevant to candidates preparing to sit TX-HKG and ATX-HKG. It aims to explain, in layman terms as far as possible, the Hong Kong tax rules and practice surrounding the claims for interest deductions by individual taxpayers.

Company car tax in Hungary
Relevant to TX-HUN
This article is relevant for candidates sitting the TX-HUN exam. Although some dates referred to may be in the past, the underlying principles and concepts covered in the article are still examinable and remain relevant for current candidates. 

Revenue’s Code of Practice for Compliance Interventions 2022
Relevant to TX-IRL and ATX-IRL
This article is based on Revenue’s Code of Practice for Compliance Interventions 2022 (the Code), which is effective from 1 May 2022 and is relevant for candidates sitting TX-IRL and ATX-IRL from June 2023 onwards.

New company start-up relief
Relevant to TX-IRL
The purpose of this article is to explain the workings of Ireland’s tax relief for start-up companies, which was introduced in the Finance Act 2009 to encourage new business activity. The article sets out details of the scheme, including the maximum and marginal tax-exempt amounts allowable and the time limits for the relief.

Taxation of termination payments
Relevant to TX-IRL
From 2011, termination payments are examinable in TX-IRL.

Corporation tax losses – part 1
Relevant to TX-IRL
In the first of two articles on how losses incurred by a company can be used against profits in the current, previous, or future accounting periods, we focus on trading losses.

Corporation tax losses – part 2 
Relevant to TX-IRL
The second part of two articles covers the relief available to a company for Case V and capital losses. It also outlines the tax consequences if a company is late in submitting its corporation tax return (CT 1).

Notional interest deduction (NID) rules
Relevant to TX-MLA and ATX-MLA 
During 2017, Malta introduced a new NID regime, which is effective from the 2018 year of assessment. The NID is designed to align the tax treatment of the cost of equity with that of the cost of debt.

How to approach a computational question for a sole trader
Relevant to TX-MWI
This article is relevant to those of you sitting the TX-MWI exam in June 2023 or December 2023 and is based on tax legislation as it applies to the tax year 2022-23.

Aggregate to total income 
Relevant to TX-MYS
This article covers all the deductions found under Section 44 of the Income Tax Act 1967, although detailed explanations are restricted to items examinable for TX-MYS.

Tax implications of financial arrangements for motor vehicles
Relevant to TX-MYS
A look at company vehicles and explains how the nature of their use – rather than their model – distinguishes them as either commercial or non-commercial vehicles. In this article, the tax implications of this principle are explained with the use of a case study scenario.

Joint and separate assessment
Relevant to TX-MYS
The principles of joint and separate assessment.

Transitioning into sales tax and service tax – clarifying the confusion
Relevant to TX-MYS
The article is relevant for candidates preparing for FTX-MYS Foundations in Taxation, as well as providing a good foundational read for candidates taking the TX-MYS and ATX-MYS exams. The article is based on prevailing laws as at 31 March 2019.

The Polish New Deal
Relevant to TX-POL
This article looks at the major tax reforms to corporate income tax (CIT), personal income tax (PIT) and social security and health service contributions (ZUS and HSC), effective from the tax year 2022.

Tax reliefs: IP Box and R&D
Relevant to TX-POL
This article is relevant from the December 2021 session onwards. It is based on the tax legislation applicable to the tax years 2019 and 2020, and onwards.

Corporate Income Tax (CIT) - Financing and related party services cost limitation, separation of sources of income and yet new transfer pricing (TP) reporting rules
Relevant to TX-POL
This article is relevant for candidates sitting the Taxation – Poland (TX-POL) exam from the December 2020 session onwards. It is based on the tax legislation applicable to the tax years 2019 and 2020.

General anti-avoidance rules (GAAR) in Polish tax practice
Relevant to TX-POL 
This article discusses the general anti-avoidance provisions and the transfer pricing rules.

Changes for the year 2023
Relevant to TX-RUS
This article is relevant to those sitting TX-RUS in December 2023 and outlines the key changes in Russian tax law for the year 2023.

Taxation on transactions in securities
Relevant to TX-RUS
The taxation of securities transactions within personal income tax (PIT) are often examined in the TX-RUS exam. Such questions are often not answered as well as would be expected.

The VAT calculation for export of goods
Relevant to TX-RUS
The calculation of VAT on export is regularly examined in the TX-RUS exam, although such questions are generally not answered as well as would be expected. The article will cover the often-examinable topics within items D1(d), D2(a), (c) and (r), and D3(e) of the syllabus.

Immovable property
Relevant to TX-RUS
Topics around personal income tax (PIT) in respect of transactions with immovable property are examined in the TX-RUS exam and very often encountered in real life, although such questions are generally not answered as well as would be expected.

Interest and dividends
Relevant to TX-RUS
Interest deduction and dividends treatment for corporate profits tax purposes are regularly examined in the TX-RUS exam, although such questions are generally not answered as well as would be expected. This article will cover these topics within items C2bi, C2biii and C3bxii of the syllabus and study guide.

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