Personal Taxation - BUSN5023

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Module delivery information

Location Term Level1 Credits (ECTS)2 Current Convenor3 2022 to 2023
Canterbury
Spring Term 5 15 (7.5) Duncan Finn checkmark-circle

Overview

This module is designed to explain the operation and scope of the UK tax system and the obligations of taxpayers and the implications of non-compliance. Areas covered are as follows:

The UK tax system including the overall function and purpose of taxation in a modern economy, different types of taxes, principle sources of revenue law and practice, tax avoidance and tax evasion.

Income tax liabilities including the scope of income tax, income from employment and self-employment, property and investment income, the computation of table income and income tax liability the use of exemptions and reliefs in deferring and minimising income tax liabilities.

National insurance contributions including the scope of national insurance, class 1 and 1A contributions for employed persons, class 2 and 4 contributions for self-employed persons.

Introduction to chargeable gains including the scope of taxation of capital gains, the basic principles of computing gains and losses, the computation of capital gains tax payable by individuals and minimising tax liabilities arising on the disposal of capital assets,

Principles of Inheritance Tax and the use of exemptions and reliefs in deferring and minimising inheritance tax liabilities.

The obligations of taxpayers and/or their agents including the systems for self-assessment and the making of returns, the time limits for the submission of information, claims and payment of tax the procedures relating to enquiries, appeals and disputes, penalties for non-compliance.

Details

Contact hours

Total contact hours: 33
Private study hours: 117
Total study hours: 150

Method of assessment

Exam, 2 hours (70%)
In-Course Test (15%)
VLE Test (15%)

Reassessment method: 100% Exam

Indicative reading

ACCA (2020) Taxation F6 London: Kaplan Financial Ltd (updated annually with new FA)

Learning outcomes

- Critically appraise the regulatory, commercial, professional, ethical and social environment within which taxes are levied and tax computations are prepared and used.
- Explain and compute the income tax liabilities of individuals and the effect of national insurance contributions on employees, employers and the self-employed.
- Critically analyse financial data in the context of liability for taxation.
- Analyse the operations of a business from a tax planning perspective.
- Exercise independent and self-managed learning.
- Communicate effectively to a variety of audiences and/or using a variety of methods.
- Critically evaluate arguments and evidence.
- Prepare tax computations.

Notes

  1. Credit level 5. Intermediate level module usually taken in Stage 2 of an undergraduate degree.
  2. ECTS credits are recognised throughout the EU and allow you to transfer credit easily from one university to another.
  3. The named convenor is the convenor for the current academic session.
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