Module ECON3431: Tax Planning for Business

Department: Economics and Finance

ECON3431: Tax Planning for Business

Prerequisites

• ECON2201 Introduction to Taxation

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To enable students to apply technical knowledge and professional skills to identify and resolve tax problems that arise in the context of preparing tax computations and to advise on tax-efficient strategies for businesses and individuals.

Content

• Ethics and law
• Taxation of corporate entities
• Taxation of unincorporated businesses including partnerships
• Personal taxation

Learning Outcomes

• On the successful completion of this module, students will:
• Have acquired the necessary technical knowledge and professional judgement to identify, explain and evaluate alternative tax treatments and solve tax planning problems
• Have a thorough understanding of the ethical and legal implications of taxation planning strategies
• Have knowledge of and be able to solve problems using the technical rules surrounding the taxation of corporate entities, unincorporated businesses including partnerships, and individuals
• Have an appreciation of the interaction of taxes in given scenarios

• By the end of the module, students should be able to:
• determine the appropriate solutions to taxation issues, giving due consideration to the needs of clients and the interaction between taxes
• consider the commercial context and impact of recommendations in making such judgements, as well as ethical and legal issues
• analyse, evaluate and calculate the tax consequences of actions for individuals and companies and evaluate the interaction of taxes in given scenarios. This will involve advising and assisting clients in adhering to tax regulations.
• advise on alternative tax treatments to defer or minimise tax liabilities
• identify and discriminate between tax evasion, tax avoidance and tax planning

• Problem solving and analytical skills
• Communication and reporting skills: The ability to communicate effectively: communicating complex ideas orally and in writing
• The ability to think critically and creatively and to argue coherently

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

• The module will be delivered by a series of lectures and problem/case study based classes. Lectures will be used to deliver core knowledge and explain theories and models; with, for example, items such as podcasts and recorded lectures used to prepare students for lectures and to consolidate knowledge after lectures.
• The problem/case study based classes will take place in a active learning space, enabling students to work collaboratively in small groups.
• Formative assessment will consist of case study questions.
• Summative assessment will consist of a written summative assignment and a summative examination. The summative assignment may be catalysed by a professional practice led forum, which will engage the students with the world of professional practice and will centre on the ethical aspects of tax practice.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Case study questions

■ 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