Taxation
- Module Code:
- 151030039
- Credits:
- 15
- FHEQ Level:
- 6
- Year of study:
- Year 3
- Taught in:
- Term 2
Taxation is an important element of accounting and has profound implications during the decision making process including that involving financing, investing and dividends. Taxation is also important at personal level including its implications for personal finance (income), savings and financial planning. The module examines the issue of taxation both from personal and corporate levels. Students are introduced to the administration of the tax system in the UK. Thereafter, the modules looks at the issues relating to the computation of income tax from employment, self-employment and investments. The module looks at corporation tax including taxable profit and chargeable gain. Finally the modules looks at special topics in taxation including value added tax computation and administration.
Objectives and learning outcomes of the module
On successful completion of this module a student will be able to:
- Describe the underlying principles of personal and business taxation
- Describe the main elements of the operations of a selection of UK taxes
- Compute personal tax liability from employment and self-employment income
- Compute tax liability from investment income, estates, settlement and trusts
- Discuss the penalties for non-compliance to UK tax laws
Method of assessment
This module is assessed by written coursework (30%) and by one two hour examination (70%)
Suggested reading
TBC