Course Resources Archive
AC6007: Advanced Taxation
Module Title | Advanced Taxation |
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Module Code | AC6007 |
Module Tutor | Chris Wiltshire |
School | Accounting and Law |
CAT Points | 15 |
Level of Study | 6 |
Pre-requisites | Before taking this module you must pass ACC207 or pass AC5007 |
Co-requisites | None |
Restrictions | Cannot be counted with ACC307 |
Brief Description | This Module is an advanced course in taxation, dealing with incorporated and unincorporated businesses and personal taxation. It will address the application of direct and indirect taxes on individuals, incorporated and unincorporated businesses. The syllabus includes the application of National Insurance to employed and self-employed individuals and employers As this is a technical module set at a level equivalent to paper F6 of the ACCA professional examinations, a firm grasp of the principles and practice of taxation from ACC 207 is important. This course will develop that earlier material in much greater depth and there will be frequent opportunities to practice the computational aspects of the materials through worked examples and tutorial questions which will be set each week as classroom or private study exercises. |
Indicative Syllabus | The syllabus involves study in areas including: The operation and scope of the tax system, its regulatory framework and administration; application of statutory and non-statutory rules and case law on establishing the incidence of taxation. The professional and ethical requirements applying to accountants and others involved in taxation work Computation of the income tax liabilities of individuals including reliefs and allowances available to those entitled to additional age-related allowances. Computation of adjusted trading profits/losses for individuals and partnerships involved in unincorporated businesses and the incorporation of such resulting assessments in the tax returns of the individual Computation of the corporation tax liabilities, including the treatment of losses arising, of individual companies and simple groups of companies. Computation of the chargeable gains arising on companies and individuals. Computation of national insurance contributions on employees, employers and the self-employed. Assess the application of and prepare computations relating to the assessment of Value Added Tax on incorporated and unincorporated businesses. Identify and understand the obligations of taxpayers (individual and corporate), the implications of non-compliance, and the investigative powers and deterrents available to HM Revenue and Customs. Explain the principles of Inheritance Tax and apply them to individual taxpayers in straightforward scenarios. |
Learning Outcomes |
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Learning and Teaching Activities | Scheduled Contact Hours: 30 Independent Learning Hours: 120 |
Assessment (For further details see the Module Guide) | 001: 100% Written Exam: End of year, unseen, closed book: 3.00 hours |
Special Assessment Requirements | |
Indicative Resources | The Library Catalogue contains full details of the current reading list for this module. Further details may also be found in the Module Guide. |