MBM7652 - Taxation 2

Objectives:

On successful completion of the module, students will be able to:
Understand and analyse the functioning of the UK tax system, including principal sources of revenue law and practice and the function and purpose of taxation in a modern economy.
Compute taxable income and tax liability in relation to: Income Tax, Corporation Tax, Inheritance Tax, VAT and Tax on Chargeable gains.
Understand and analyse the obligations of Taxpayers and/or their agents in relation to the submission of data and payment of tax.
Understand and compute National Insurance Liability (Class 1,1A, 2 and 4).
Evaluate and apply the use of exemptions and reliefs in deferring and minimising tax liabilities and understand the difference between tax avoidance and tax evasion.

Content:

This module covers the study of taxation at advanced level, including Personal and Corporate Taxation. Following the introduction to taxation (MBM 7642 Taxation 1), there is in-depth study of tax on chargeable gains, computation of chargeable gains and tax on gains and losses on disposal (property and securities), inheritance tax and National Insurance, as well as investigation of VAT and computation of liabilities and effect of special schemes. Obligations of tax payers and/or their agents, time limits for submission of information, claims and payments of tax, procedures relating to compliance checks, appeals and disputes are also covered within the module.

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
Contact hours: 12
Intended group size: Whole cohort

Workshops
Contact 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 will be granted on passing this module and MBM 7642 Taxation 1.

Assessment: