Module ECOS2251: TAX COMPLIANCE

Department: Business School (Economics and Finance) [Queen's Campus, Stockton]

ECOS2251: TAX COMPLIANCE

Prerequisites

• Principles of Taxation

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To enable students to prepare tax computations and provide tax advice to individuals and companies in straightforward scenarios.

Content

• Ethics and law
• Capital gains tax
• Income tax
• Inheritance tax
• National Insurance contributions
• Corporation tax
• VAT and stamp taxes

Learning Outcomes

• Have knowledge of the ethical issues arising in the course of performing tax work
• Be familiar with capital gains tax, income tax, inheritance tax, National Insurance, corporation tax, stamp taxes and VAT
• Have knowledge of the obligations the UK system of tax imposes on tax payers
• Have knowledge of the implications for taxpayers of non-compliance

• Be able to calculate the capital gains tax payable by individuals and trustees.
• Be able to calculate the amounts of income tax owed by or owed to individuals and trustees.
• Be able to calculate the amounts of inheritance tax due on lifetime transfers and transfers on death by individuals, personal representatives and trustees.
• Be able to calculate the amount of national insurance payable by individuals, businesses and companies.
• Be able to calculate the corporation tax liabilities of companies
• Be able to calculate the amount of VAT owed by or owed to businesses.
• Be able to calculate the amount of stamp taxes due in straightforward transactions.

• be able to take responsibility for their own advanced studies, to undertake and manage independent investigation and adhere to deadlines.
• have developed a range of generic transferable skills relating to library research, synthesis of data, critical thinking, problem solving, creativity, and reflection on learning.
• be able to communicate effectively through written materials and visual aids.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Learning will be based on knowledge transfer from taught classes and independent study; investigation of cases and real world organisations will encourage students to develop awareness of cultural differences and apply these to the development of their skills in managing themselves and others in such contexts.
• Classroom activities and independent study will help students acquire technical awareness of topics in a comprehensive form.
• The formative assessment will provide feedback to students regarding their ability to practise taxation in different scenarios and cases.
• The examination will test students’ understanding of the main concepts and technical treatments through problem solving and reflection on learning.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Mock exams

■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University