Programme of Study Catalogue

Objectives:

On successful completion of the module, students will be able to:
Understand and critically analyse the functioning of the UK tax system.
Understand and analyse principal sources of revenue law and practice and the function and purpose of taxation in a modern economy.
Understand and analyse the obligations of Taxpayers and/or their agents in relation to the submission of data and payment of tax.
Demonstrate knowledge and critical understanding of different types of taxation, including tax on income, tax on profits, tax on assets, tax on spending (ad valorum).
Demonstrate knowledge and critical understanding of principles of reliefs and allowances on expenses, capital, capital gains, disposal and trading losses.

Content:

This module contains an overview of taxation and its relationship with financial reporting and provides an introduction to the study of taxation at Masters level � there are two major areas, Personal and Corporate Taxation. They are underpinned by a set of foundation taxation principles and include: the overall function and purpose of taxation in a modern economy - types of taxes, principal sources of revenue law and practice, tax avoidance and evasion. Taxation of income from employment, income from self-employment and property and investments. Computation of taxable income and income tax liability and use of exemptions and reliefs in deferring and minimising tax liabilities. Corporation tax, taxable total profits, computation of corporation tax, effect of group corporate structures for corporation tax purposes, corporate exemptions and reliefs.

Learning and Teaching Information:

The sessions will be organised in mainly 2.5-hour teaching blocks. Lectures will deliver core theoretical frameworks, followed by seminar discussions and workshops.

Lectures
Hours: 12
Intended Group size: Whole cohort

Seminars/workshops
Hours: 12
Intended Group size: Groups 6-8

Guided independent study
Hours: 176

Further details relating to assessment
In cases of failure, students will have to re-sit. ACCA examination exemption (subject to approval) will be granted on passing this module and MBF 7232 Applied Taxation.