How can I enrol?
The enrolment deadline for Corporate Taxation and all other AMCT stage one papers is 15 December for April examination and 15 June for October examination.
Corporate Taxation is one of four foundation papers which comprise stage one of the AMCT Diploma in Treasury. Only students enrolling on AMCT can book this paper. You can study the stage one papers in any order, but are recommended to study Financial Management & Accounting before, or at the same time as Corporate Taxation, because some basic accounting knowledge is assumed in the Corporate Taxation manual and tuition course.
Exemptions
Exemptions from AMCT stage one papers are available for qualified and part qualified accountants and those individuals with previous relevant qualifications.
Entry requirements
- Good standard of English: due to the course being written and examined in English, students will need to possess a good standard of English.
- Internet Browser version: the eLearning website is an important part of this course as you will be able to access the online course manual, discussion forum and further information. Therefore you do need the latest browser to access the content. We suggest one of the following browsers: Internet Explorer 7 or 8, Firefox 3 or Google Chrome to view the content correctly.
Course content
An overview of the course content is provided below. For a detailed outline download the full syllabus
Study Unit 1 – The UK tax system
General principles of taxation
Impact of the European Union
UK tax system – structure, administration, self-assessment system
Study Unit 2 – Principles of taxation
Income tax
Principles of taxing trading income
Payroll taxes
Study Unit 3 – Corporation tax
Profits chargeable to corporation tax
Basis of assessment and charge
Computation of trading profits and losses
Rates of corporation tax
Payment of corporation tax
Loss reliefs
Capital allowances
Study Unit 4 – Calculation of chargeable gains
Introduction and history
The charge to tax
Computation of chargeable gains and losses
Losses and reliefs
Study Unit 5 – Value added tax
Introduction and history
Liability to VAT
Partial exemption
Capital goods scheme
Administration and payment
VAT grouping
The Single European Market
Study Unit 6 – Taxation of UK groups
Definition of groups
Group relief
Group income
Capital gains tax and substantial shareholding exemption
Tax management in UK groups
Study Unit 7 – International tax issues
International tax environment
Principles of US taxation
Principles of European taxation
Company residence
Tax havens
Permanent establishment
Taxation of company profits, dividend distributions, withholding tax and double taxation treaties
Holding company structures
Controlled foreign companies
Transfer pricing
Funding subsidiaries and thin capitalisation
Current issues
Study Unit 8 – Taxation and the treasury function
Key tax issues in a treasury environment
Taxation of interest
“Short” interest and yearly interest
Taxation of derivative financial instruments
Taxation of foreign exchange gains and losses
VAT in the treasury environment
Study Unit 9 – Transaction Taxes
UK stamp duty
European capital duties
European property taxes
Learning outcomes
Following completion of the course you will be able to:
- Understand the structure and the principles of the various corporation taxation systems affecting corporate activity with particular reference to the UK, Europe and the US.
- Understand the general principles of corporation tax assessment, capital allowances, loss reliefs and payment structure.
- Apply the basic principles of capital gains tax, value added tax and the taxation of groups.
- Understand some key issues relating to international taxation and tax planning.
- Apply the relevance of taxation in a treasury environment and the taxation of basic treasury instruments.
- Apply the techniques used in investment appraisal.
- Understand the sources, types and applications of finance.
Corporate Taxation is a distance learning programme combining self study with optional face-to-face teaching.
Study tools include:
- A comprehensive course manual
- e-learning website providing access to an online version of the course manual, progress tests, past exam papers, glossary and course tutors
What’s included: Course manual (print and online), access to the e-learning website and the tuition school.
You will need: Access to a computer with internet connection.
Tuition and revision
Optional tuition
The four day optional tuition course covers core topics. Tuition has been tailored to cover the key areas of the course – reinforcing and improving knowledge. Tuition days complement your home study; each day is intensive, covering a number of topics in detail with lecturers, worked examples and tutorial sessions.
You can book onto the optional tuition and revision when you enrol or up to 10 days before the start of the courses.
Assessment and examination
Each paper within the AMCT syllabus is assessed by a three hour written examination.
Pass mark and pass rates
The mark you need to achieve a pass in all papers apart from CertITM is normally 50%. The pass mark for CertITM will vary from one examination sitting to another according to the difficulty grade of the multiple choice paper. As a guide a student achieving 70% or over will have passed CertITM.
Booking your exam venue
Students are automatically registered to sit the exam in London. If this is where you intend to sit your exam, no further communication with us is necessary.
We have exam venues in Edinburgh, Dublin, Hong Kong and Singapore which you can book. You don’t need to book your exam venue when you enrol, we will write to you 10 weeks before the exam date asking you to select your venue.
If you cannot take your exam at one of the above venues and you live outside of the UK mainland, you can request to take your exam at a venue local to you. It is your responsibility to contact a suitable venue. The first point of contact is the British Council, although Universities and Colleges of Higher Education are also acceptable venues. Further details will be available to you when you enrol as a student.
For students sitting exams at venues other than London, Edinburgh and Dublin, an administration fee will be payable directly to your chosen local exam venue.
Becoming a member of the ACT
AMCT is the associate membership qualification for the ACT and leads to the designatory letters AMCT. On achieving AMCT you can become a member of the ACT and join the largest community of qualified treasury, risk and finance professionals.
Frequently asked questions
These frequently asked question pages answer generic questions on our qualifications processes and rules which are applicable across the range of our products.
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