Course Resources Archive

This module will provide students with a thorough understanding of the practical aspects of the UK taxation system, the ability to analyse the taxation issues relating to different entities and to offer tax planning solutions, taking account of the interaction of taxes.

An examination of the UK Taxation System, with emphasis on the interaction of taxes and the importance of taxation to personal and corporate financial management. This will include, inter alia, consideration of:

• Income tax in situations involving overseas aspects and the use of exemptions and reliefs to minimise liabilities
• Corporation tax, including close companies, controlled foreign companies and the impact of other group structures
• Capital gains tax and chargeable gains, including the calculation of gains  and losses on disposal of a variety of types of assets and the use of exemptions and reliefs
• Inheritance tax, including computation of transfers of value, the concepts of domicile and deemed domicile, and the system of administration
• Vat and tax administration, including the use of disaggregation of business activities, group and divisional registration and imports and exports

i. Knowledge and understanding
On successful completion of the module the student should be able to:
a)  Demonstrate an understanding of the administration of the UK Taxation system
b)  Appraise the taxation implications of overseas operations for individuals and companies
c)  Appraise tax planning issues arising from different business situations and to calculate the resulting tax liabilities
d) Produce succinct and detailed analysis of relevant tax issues in a format suitable for presentation to colleagues or clients
e) Demonstrate knowledge of the administration of the UK taxation
f)  Demonstrate an in-depth understanding of the calculation of business profits and losses for both individuals and partnerships
g) Calculate the corporation tax liability of UK companies including foreign source income.
h) Demonstrate a comprehensive understanding of capital gains tax computations and calculate the principal capital gains tax reliefs
i)  Demonstrate knowledge of the scope and valuation principles of inheritance tax, and an understanding of the general exemptions and relief
j)  Demonstrate detailed knowledge of the general principles of VAT
k) Demonstrate an appreciation of the importance of a person’s residence and domicile in relation to income tax, capital gains tax and inheritance tax
l) Apply tax planning for all the sources of tax covered by the syllabus and consider the ethical and professional issues arising from giving tax planning advice

iii. Skills
On successful completion of the module the student should be able to:
a) Analyse and interpret financial and taxation literature
b) Communicate through group based tutorial activities and written work of a variety of styles

Staff/student contact: approximately 20% (lectures, tutorials)
Student directed study: approximately 80%

The Library Catalogue contains full details of the current reading list for this module. Further details may also be found in the Module Guide.