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The Institute was the first UK tax body to join the Confédération Fiscale Européenne (CFE). The 500 members of the Institute of Indirect Taxation (IIT) became members of the CIOT in August 2012 following the memberships of both bodies approving the merger of the two bodies at separate meetings in May 2012. Partnerships
The Scottish Credit and Qualifications Framework (SCQF) in Scotland; The Frameworks for Higher Education Qualifications of UK Degree-Awarding Bodies (FHEQ) for qualifications awarded by bodies across the United Kingdom with degree-awarding powers. Credit frameworks use the Credit Accumulation and Transfer Scheme, where 1 credit = 10 hours of ...
ADIT. Headquarters. London, United Kingdom. Website. www .tax .org .uk /adit. ADIT (the Advanced Diploma in International Taxation) is a professional qualification and credential, offered globally by the UK-based Chartered Institute of Taxation (CIOT) to international tax professionals. As of August 2021, there were more than 5,000 ADIT ...
The ACCA full Professional qualification is regarded as the equivalent of a UK master's degree by the UK NARIC and Department for Education. Subjects include: Financial accounting , Management accounting , Financial reporting , Taxation , Company law , Audit and assurance and Financial management .
The UK government has a list of professional associations approved for tax purposes (this includes some non-UK based associations, which are not included here). There is a separate list of regulators in the United Kingdom for bodies that are regulators rather than professional associations.
Higher education qualifications are contained in the Framework for Higher Education Qualifications (FHEQ). The FHEQ corresponds with levels 4 to 8 of the RQF. Scotland has its own education system and its own twelve level system, the Scottish Credit and Qualifications Framework. These can also be equated with the European Qualifications Framework.
Tax revenues as a percentage of GDP for the UK in comparison to the OECD and the EU 15. In 1971, the top rate of income tax on earned income was cut to 75%. A surcharge of 15% on investment income kept the overall top rate on that income at 90%. In 1974 the top tax rate on earned income was again raised, to 83%.
The definitions of large and small company size are driven by the EU classifications (and adjusted for UK R&D Tax Credit purposes) including revenues, number of employees and balance sheet assets. The SME scheme works by allowing the SME to deduct an additional 130 per cent of its eligible R&D costs from its taxable income (a superdeduction).