We know the allocation of marks in the exam between the various taxes but what about the revenue generated?
ACCA F6 students will be well aware that the vast majority of marks available in the exam are in connection with income tax and corporation tax. Other taxes such as CGT and VAT also play an important part but not to the extent that income tax and corporation tax do.
Whilst these two taxes represent the bulk of the marks in the exam, how does it compare with the split of revenue generated by the various taxes?
HMRC have published their statistics for 2008/09 which provide the following information:
Over 50% of revenue is generated from income tax and national insurance alone. CGT on the other hand only generates 2% of the revenue.
I’m sure however that the key % in students minds at the moment is the 50% they need in the exams next month so good luck with your studies in the next couple of weeks!