Taxation - CB513

Location Term Level Credits (ECTS) Current Convenor 2019-20
Canterbury
(version 2)
Autumn and Spring
View Timetable
6 30 (15) MR A Lall
Medway
(version 2)
Autumn and Spring
View Timetable
6 30 (15) MR D Finn

Pre-requisites

ACCT5060 or ACCT5240 Financial Accounting II

Restrictions

Available to short-term/exchange students

2019-20

Overview

A synopsis of the curriculum
The module will aim to cover the following topics:
• The UK tax system including the overall function and purpose of taxation in a modern economy, different types of taxes, principal 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 taxable income and income tax liability, the use of exemptions and reliefs in deferring and minimising income tax liabilities.
• Corporation tax liabilities including the scope of corporation tax, profits chargeable to corporation tax, the computation of corporation tax liability, the use of exemptions and reliefs in deferring and minimising corporation tax liabilities.
• Chargeable gains including the scope of taxation of capital gains, the basic principles of computing gains and losses, gains and losses on the disposal of movable and immovable property, gains and losses on the disposal of shares and securities, the computation of capital gains tax payable by individuals, the use of exemptions and reliefs in deferring and minimising tax liabilities arising on the disposal of capital assets.
• 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.
• Value added tax including the scope of VAT, registration requirements, computation of VAT liabilities.
• Inheritance tax and the use of exemptions and reliefs in deferring and minimising inheritance tax liabilities. Introduction to international tax strategy, implementation, compliance and defence. An understanding of principles of normative ethics in business and in taxation from local and global perspectives.
• 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

This module appears in:


Contact hours

Total contact hours: 65
Private study hours: 235
Total study hours: 300

Method of assessment

Main assessment methods:
Exam, 3 hours (70%)
In-Course Test A (15%)
In-Course Test B (15%)

Reassessment method:
100% exam

Indicative reading

Core Text:
ACCA (2015) Taxation F6 London: Kaplan Financial Ltd (updated annually with new FA)

Boatright, J.R, (2012), Ethics and the Conduct of Business. 7th ed. Harlow: Pearson Education Ltd

See the library reading list for this module (Canterbury)

See the library reading list for this module (Medway)

Learning outcomes

The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- critically appraise the regulatory, commercial, professional, ethical and social environment within which taxes are levied and tax computations are prepared and used
- critically review aspects of the conceptual (economic, decision-theoretic and behavioural) underpinning to the tax legislation
- critically examine the technical language and practices employed in recognition and measurement of taxable income in the UK
- critically analyse financial data in the context of liability for taxation
- evaluate financial data and prepare tax computations based on financial data
- analyse the operations of a business from a tax planning perspective

The intended generic learning outcomes.
On successfully completing the module students will be able to:
- exercise independent and self-managed learning
- communicate effectively
- critically evaluate arguments and evidence

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