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AC.F306: Taxation


Department: Accounting and Finance NCF Level: FHEQ/QCF/NQF6//RQF6
Study Level: Part II (final year) Credit Points: 15.0
Start Date: 09-10-2017 End Date: 11-05-2018
Available for Online Enrolment?: Y Enrolment Restriction: Fully available to all students
Module Convenor: Mrs CB Pilkington

Syllabus Rules and Pre-requisites

  • The student must take the following modules:

CMod description

  • This module gives you an understanding of the economic and social impact of taxation and how these impacts influence the formation of tax policy. It covers the basic principles of UK income tax, corporation tax and other taxes, and teaches you the skills needed to perform basic tax computations.

Curriculum Design: Outline Syllabus

  • 1 Objectives of taxation and the choice of tax bases.
    Desirable characteristics of a 'good' tax

    2 Personal income tax computation. Employment income.

    3 Tax rules v Accounting rules and Adjustment of profit
    Basis Periods

    4 Capital allowances
    Trading losses

    5 Capital Gains Tax basic principles and computation

    6 Capital Gains Tax Reliefs
    Introduction to Inheritance tax

    7 Corporation tax computations and principles

    8 Corporation tax loss relief and tax implications or groups of companies 

    9  International aspects

    10 VAT - Introduction to basic principles of liability and the impact of registration of business
    Revision Lecture

  • 75% Exam
  • 25% Coursework

Educational Aims: Subject Specific: Knowledge, Understanding and Skills

  • The course is an optional 15-credit module designed to offer a broad introduction to the UK tax system as it affects businesses, aimed at final year undergraduate students. It will be particularly relevant to those students who contemplate a career in accountancy after graduation, as the subject matter of the modules will be valuable grounding for professional study and exams for membership of the major UK accounting bodies. However, the course also includes material of a policy and economics nature.

Learning Outcomes: Subject Specific: Knowledge, Understanding and Skills

  •  

    On successful completion of the course, students should have:

    • A basic understanding of the history and development of the UK tax system.
    • An understanding of the political and legislative framework in which the UK tax system operates, including a knowledge of the UK legislative process, the administrative structure of UK tax compliance and a knowledge of how the EU and other multilateral agencies impact UK fiscal  policy.
    • An understanding of the economic and social impact of taxation and how these impacts influence the formation of tax policy
    • An understanding of the basic principles of UK Income tax, Corporation Tax and Value Added Tax.
    • A knowledge of the basic principles of Case Law in supplementing primary legislation.
    • The ability to perform basic computations of income tax and corporation tax liability.
    • A brief understanding of other UK taxes, Inheritance Tax and Capital Gains Tax.

Contact Information

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