The Tax Fundamentals exam introduces the general objectives of taxation and teaches students how to calculate income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, VAT and stamp taxes in straightforward scenarios.
Exam overview
Duration: 2 hours*
Total questions: 42
Format:
- 40 questions: Multiple-choice, multi-part multiple choice or multiple-response
- Two questions (worth 10 marks each): Scenario-based
*ACA Certificate Level and ICAEW CFAB exams scheduled for a date after the 1 March 2026 will now include an additional five minutes within the overall 'Appointment Length' in the exam booking confirmation e-mails for an optional survey. Please note that this does not form part of the exam time, the survey and separate five minute timer will only start once exams have been ended. The duration shown here is the exam time.
Resources
Syllabus
Errata
Pilot exams
This pilot exam has been developed to provide an early example of what the exam will look like, how the syllabus content may be assessed and how questions will be formatted in the real exams.
Sample exams
To help you prepare for the Accounting Fundamentals exam, two sample exams have been made available. Each exam includes a balanced selection of questions from the published question bank and is designed to reflect the structure and format of the actual exam. Each sample exam contains 2 long-form questions and 24 short-form questions.
Student Insights
| Inheritance Tax and Stamp Duty (Certificate Level) | If you have passed the Certificate Level Principles of Taxation exam and will be sitting the Professional Level Tax Compliance and Planning exam, you should review the supplementary content. This supplement includes two chapters – Inheritance Tax and Stamp Duty – taken from the Certificate Level Tax Fundamentals materials to ensure that you are prepared for the Tax Compliance and Planning Exam. |
| Exam guide: Tax Fundamentals | This Certificate Level and ICAEW CFAB exam guide ensures you’ll approach Tax Fundamentals with the right strategy. |
| 11 ways to manage exam stress |
The work/life/study balance can be challenging, especially during exams and at busy times of the year. Follow our top tips to avoid burning out. |
| 10 common exam mistakes – and how to avoid them | As you count down to your next sitting, make sure you avoid these common mistakes, both in the run-up to the exam and on the day itself. |
| 5 study techniques to try | Revising by simply reading the same information over and over again? Try these proven strategies to boost your learning (and save you time). |
Buy your learning materials
All learning materials are digital and are available on your ICAEW Bookshelf.
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