Module Catalogues

Advanced Taxation

Module Title Advanced Taxation
Module Level Level 3
Module Credits 5.00
Academic Year 2021/22
Semester SEM1

Aims and Fit of Module

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) Learning Mall – 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 which will graded to form part of the module assessment.