It is essential that accountants have a sound working knowledge of the taxation system to enable them to ensure individuals and businesses comply with the current tax legislation and to allow them to provide accurate tax planning advice.
This module introduces students to the current taxation system applicable to individuals, businesses, and companies. Students will learn how to calculate taxation liabilities arising in areas such as personal tax, employment tax, capital taxes, corporation tax and VAT. Students will also have the opportunity to provide tax planning advice in scenarios that reflect those experienced in real life. The different forms of environmental taxes and incentives will be explored, including the rationale for such taxes and their impact. Furthermore, this module will explore the theoretical, ethical, and administrative aspects of taxation..
Learning Outcomes
By the end of the module students should be able to:
Describe the basic theoretical foundations of a modern domestic tax system;
Recognise and explain ethical issues arising in the performance of local and international tax work;
Illustrate the obligations imposed upon the taxpayer by the local tax system and the implications for taxpayers of non-compliance;
Identify and explain the use of various taxes that make up the local tax system;
Perform a range of personal, corporation and consumption tax calculations;
Apply a variety of tax rules in tax planning for real-life situations;
Appraise the influence of taxes on decision making in commercial and domestic environments, including appraising international taxation issues;
Critically evaluate the interaction of taxes in order to solve real-life cases.
Assessment
33934-01 : 2 hour exam : Exam (School Arranged) - Written Unseen (50%)
33934-02 : 2 hour class test : Class Test (50%)
Assessment Methods & Exceptions
Assessment:
1,500 Word Individual Report: Coursework (50%); 3-hour examination (Centrally Timetabled) – Written Unseen (50%)
Reassessment:
Reassessment will be by failed component, as follows: 1,500 Word Individual Report: Coursework (50%); 3-hour examination (Centrally Timetabled) – Written Unseen (50%)