Module Catalogues, Xi'an Jiaotong-Liverpool University   
 
Module Code: ACC307
Module Title: Advanced Taxation
Module Level: Level 3
Module Credits: 5.00
Academic Year: 2021/22
Semester: SEM1
Originating Department: Department of Accounting
Pre-requisites: ACF208 OR ACC206
   
Aims
The aim of this module is to enable students to prepare taxation computations under current UK tax law. The emphasis of the course is practical, however consideration will be given to a number of tax planning issues and conceptual aspects where appropriate. Taxes covered will include income tax, national insurance, corporation tax, capital gains tax and VAT. Students will learn how to prepare computations to a sufficient standard for submission to HM Revenue and Customs and at the same time students will learn about the basic principles, objectives and tax concepts.
Learning outcomes 
A. Evaluate the objectives of taxation and the choice of tax bases

B. Undertake personal income tax and corporation tax computations including calculation of capital allowances and an appreciation of the difference between tax rules and accounting rules.

C. Understand the basis of assessment for sole traders and the system of self-assessment for taxation.

D. Undertake National Insurance computations

E. Undertake capital gains tax computation and understand the reliefs available to minimise the impact of capital gains tax.

F. Discuss and apply methods of obtaining tax relief for trading and capital losses and evaluate the associated tax planning and commercial considerations.

G. Discuss the nature of indirect taxation and the administration of VAT (Value added Tax).

Method of teaching and learning 
The following teaching and learning strategies underpin this module:

a) Lectures – covering key theory and calculation of key taxes
b) Workshops – practical application and calculation of key taxes
c) ICE – used for lecture materials and relevant contemporary and academic articles
d) Formative assessment – questions will be provided to allow students to gauge their progress throughout the module
Syllabus 
• Objectives of taxation and the choice of tax bases
• Personal income tax computation. Employment income. Self employment v employment
• National insurance
• Tax rules v Accounting rules and Basis Periods
• Capital allowances
• Trading losses
• Capital Gains Tax
• Capital Gains Tax Reliefs
• Corporation tax
• Corporation tax - International aspects
• Corporate losses
• Introduction to VAT
• Revison
Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26     13        150 

Assessment

Sequence Method % of Final Mark
1 Case Study Analysis 15.00
2 Case Study Analysis 15.00
3 Final Exam 70.00

Module Catalogue generated from SITS CUT-OFF: 12/2/2020 5:15:22 AM