Free ADIT exam resources - ADITextra by Extratax Training

There’s not long to go until the June exams, so you should be getting ready to move into your revision phase and gathering your ADIT exam resources.

Each week in ADITextrathe blog for ADIT candidates – we discuss the topics covered in our online ADIT courses and share free video content. Find ADIT exam resources for Principles of International Tax, Transfer Pricing, UK & US Tax classes. 

Read on to find out about the topics covered in this week’s online classes. The spotlight is on Transfer Pricing and you can watch a discussion on Intangibles. If you missed any earlier editions of ADITextra, you’ll find them here.

 

1. Transfer Pricing

In Tuesday’s transfer pricing class, James (Jimmy) Ryan focussed on specific transactions, discussing intangible property and business restructuring.

 

Jimmy looked at the four sections in Chapter VI of the OECD Transfer Pricing Guidelines covering ‘Special Considerations for Intangibles’:

  • identifying intangibles (see the Spotlight section below)

  • ownership of intangibles and transactions involving the development, enhancement, maintenance, protection and exploitation (DEMPE) of intangibles

  • transactions involving the use or transfer of intangibles

  • supplemental guidance for determining the arm’s length conditions in cases involving intangibles

 

As part of preparing your ADIT exam resources, you should read through and highlight Chapter VI in the OECD TPG. You should also take note of the Annex to Chapter VI, which contains 29 examples illustrating the guidance on intangibles.

 

Jimmy moved on to Chapter IX of the Transfer Pricing Guidelines on Business Restructuring. He discussed typical business models implemented in a restructuring, the OECD’s approach to business restructuring and how tax authorities respond to business restructuring.

 

If you would like to express your interest in joining us for the December 2021 Transfer Pricing course, please use the contact form below or email info@extrataxtraining.com. We’ll shortly be launching the December 2021 courses with an attractive early bird booking offer!

 

2. Principles of International Tax

The Principles of International Taxation class spent last week & this week on Transfer Pricing, an important area of the Module 1 syllabus. Some of the students have already passed, or are currently studying for, the Transfer Pricing module so have no shortage of knowledge. If you are experienced in Transfer Pricing, the challenge for you in answering questions on the Principles of International Tax paper is understanding the level of detail required by the examiner. As always, two points are key:

  • Get to grips with what is required by attempting past paper questions under exam conditions and then comparing your answer to the suggested solutions.
  • Stick rigidly to your time allocation in the exam – don’t be tempted to spend longer on a question because you’re comfortable with the topic.

 

Other students on the Principles of International Tax course are new to Transfer Pricing, so Jimmy’s ability to explain the foundations is invaluable. If you missed it, check out his video on the Fundamentals of Transfer Pricing on our YouTube channel.

 

This week’s class covered:

  • Intangibles 

  • Cost Contribution Arrangements

  • Intra-Group Services

  • Business Restructuring

  • Transfer Pricing Documentation

 

You can watch part of the discussion on Special Considerations for Intangibles in the Spotlight section below.

 

If you are interested in joining us for the December 2021 course for Principles of International Taxation, please use the contact form below or email info@extrataxtraining.com. In early May, we will launch the December 2021 courses with an attractive early bird booking offer!

 

 

3. UK Tax

On Thursday, the UK Tax class looked at the remittance basis of taxation for UK resident but non-domiciled individuals. This is an important part of the Module 2.09 syllabus. When it comes to domicile and remittance, our ADIT students benefit from the expertise of James Heathcote, a Spear’s Top Recommended Tax & Trusts Accountant who authored the study materials on remittance. He uses his expertise to bring this complex topic to life with helpful illustrations.

 

To successfully answer a question on remittance to the UK in your exam, you should know the answers to these questions:

  • What is a remittance?

  • What are the exceptions?

  • What is a mixed fund?

  • What are the ordering rules for remittance from a mixed fund?

  • What was the opportunity for mixed fund cleansing?

 

ADIT Exam Resources – UK Tax

Interested in benefitting from our UK Tax expertise? Then sign up for our new online distance learning course, with introductory pricing available!

 

The online distance learning course for Module 2.09 includes:

  • Tutor support from Catriona – contact her directly from an app in the study materials

  • Mock exam with tailored feedback

 

 

4. US Tax

Ishali Patel returned on Thursday for the US Tax course looking at:

  • Foreign Account Tax & Compliance Act (FATCA)

  • Foreign Bank Account Reports & entity information reporting

  • Exchange of information

  • Co-operation between revenue authorities

 

We’re excited about Robert Misey joining us as a guest lecturer on the US Tax course later this semester. Robert is a US tax attorney focusing on international taxation, M&A structures, transfer pricing strategies, and inbound and outbound planning for multinationals. He’s also an author of an essential reading book from the syllabus – Schadewald, M. and Misey, R. ‘Practical Guide to US Taxation of International Transactions’.

 

If you would like to express your interest in joining us for the next ADIT US Tax exam sitting for Module 2.10 in June 2022, please use the contact form below or email info@extrataxtraining.com.

 

5. Spotlight on Transfer Pricing of Intangibles

Each week, we put the spotlight on a topic covered in one of our classes and offer you free ADIT exam resources. This time, let’s look at Transfer Pricing of Intangibles. The video was taken from this week’s Principles of International Taxation class, but it’s equally relevant for the Transfer Pricing paper.

 

Watch & Learn

Watch part of this week’s Principles of International Taxation course for an overview of  ‘Transfer Pricing of Intangibles‘.

 

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