Free ADIT content to help you pass your June 2021 exams. For easy access to all our free international tax content, subscribe to our YouTube channel.
Each week in ADITextra – the blog for ADIT candidates – we discuss the topics covered in our online ADIT courses and share free video content from our live classes. Follow along with Principles of International Tax, Transfer Pricing, UK & US Tax to guide your self-study.
Read on for a summary of our free ADIT content. In addition, watch our founder explain the new UK Digital Services Tax.
1. Transfer Pricing
While we’re taking a fortnight’s break from the live transfer pricing classes, take the opportunity to check out our free video content on key topics from the ADIT Transfer Pricing syllabus:
We’re no longer accepting bookings for this semester’s Transfer Pricing course. If you would like to express your interest in joining us for the December 2021 course, please use the contact form below or email firstname.lastname@example.org. 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 classes are also on an Easter break, with the students using the time to consolidate their knowledge and tackle their first mock exam. If you missed them in previous editions of ADITextra, watch free videos from the Principles of International Tax course discussing:
Controlled Foreign Company (CFC) anti-avoidance rules are part of the Principles of International Tax syllabus. You should have an awareness about the types of CFC legislation implemented by OECD states. So you should check out last week’s edition of ADITextra to watch an overview of the Controlled Foreign Company rules in the United States.
We’re no longer accepting bookings for this semester’s Principles of International Taxation course. If you would like to express your interest in joining us for the December 2021 course, please use the contact form below or email email@example.com. Soon, we will launch the December 2021 courses with an attractive early bird booking offer!
3. UK Tax
On Thursday, the UK tax course returned after a two week break. For the first hour, Catriona Loughran led the discussion on the UK’s Digital Services Tax – see the Spotlight section below for free content from the class.
Next, it was time to learn about a key topic from the ADIT UK syllabus – Controlled Foreign Company (CFC) rules. This is a popular area for an exam question. You should understand how the legislation works and be able to apply it to the scenario given in the question. Getting to grips with the UK CFC rules is not straightforward – the gateway tests can be confusing and you may find yourself lost in the complexities.
As always, don’t spend too much time reading about the topic. Once you think you understand it, start practising questions, working your way up to past paper questions. It’s the application of your knowledge that matters for the exam, so making yourself type out full answers to past paper questions is the best preparation!
UK Tax – Free ADIT Content
If you missed them in previous editions of ADITextra, watch free content from the United Kingdom Taxation course covering:
ADIT UK Tax – Online Distance Learning Course
Although we’re no longer accepting bookings for this semester’s UK Tax course, you can still benefit from our expertise by signing up for our new online distance learning course.
The online distance learning course for Module 2.09 includes:
- Comprehensive e-learning materials written by Catriona Loughran FCA CTA ADIT and other experienced tax professionals, including:
- Lorraine Nelson, International Tax Director at Grant Thornton
- James Heathcote, Private Client Director at Lancaster Knox
- Jane Lee, Head of Employer Solutions at Grant Thornton
- Hannah Hurley, Corporate Tax at Blick Rothenberg
- Ciaran McGee, VAT Specialist and Founder at CJM Chartered Tax Advisers
- Sarah Blakelock, international tax and dispute resolution advisor
- Tutor support from Catriona – contact her directly from an app in the study materials
- Mock exam with tailored feedback
4. US Tax
In Thursday’s US Taxation course, Ishali Patel shared her international tax expertise, discussing:
Related party financing of a US subsidiary: anti-earnings stripping rules & debt versus equity
Distributions from a US subsidiary
Investment in foreign partnerships and funds
Distributions from foreign subsidiaries
Corporate transfers to foreign subsidiaries
US Tax – Free ADIT Content
If you missed them in previous editions of ADITextra, watch free content from the United States Taxation course discussing:
We’re no longer accepting bookings for this semester’s United States Taxation course. If you would like to express your interest in joining us for the next ADIT exam sitting for Module 2.10 in June 2022, please use the contact form below or email firstname.lastname@example.org.
5. Spotlight on UK Digital Services Tax (DST)
Each week, we put the spotlight on a topic covered in one of our classes and offer you free ADIT content. This time, let’s look at the UK Digital Services Tax, introduced by Finance Act 2020. While this was discussed in this week’s UK Tax course, it’s also of interest for the Principles of International Taxation module due to the OECD’s work in this area.
The UK’s Digital Services Tax legislation is contained in Part 2 of, and Schedules 8 to 10 to, the Finance Act 2020. It applies to revenue earned in connection with digital services activities from 1 April 2020.
DST is a tax on UK revenues (not profits) of digital businesses that provide one or more of the following three digital services activities:
- a social media service;
- an internet search engine; and / or
- an online marketplace.
Where the revenues received in connection with the digital services activities, attributable to UK users, exceed annual thresholds, the group must submit DST returns and may have to pay DST.
The annual revenue thresholds applying to a group are:
- £500m of worldwide revenue from the digital services activities; with
- £25m of these revenues attributable to UK users.
DST applies at a rate of 2% on UK digital services revenues above an annual allowance of £25m; unless the group elects to calculate their liability on the Alternative Basis of Charge provision.
The DST legislation is new and complex. We’re grateful to Sarah Blakelock, who wrote the learning materials for this topic. Her clear explanations on how the legislation operates, along with helpful illustrations, provide our students with everything they need to successfully answer a DST question.
Watch & Learn
Watch part of this week’s UK Tax course for an overview of ‘Digital Services Tax‘.
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