Module ACCT1121: Principles of Taxation

Department: Accounting

ACCT1121: Principles of Taxation

Prerequisites

• None

Corequisites

• None

Excluded Combination of Modules

• None

Aims

• To enable students to understand the general objectives of tax and to calculate income tax, national insurance contributions, capital gains tax, corporation tax, and VAT in basic scenarios.
• To enable students to prepare tax computations and provide tax advice to individuals and companies in basic scenarios.

Content

• Objectives and types of tax
• Ethics, law and administration
• Income tax and national insurance contributions
• Capital gains tax
• Corporation tax
• VAT

Learning Outcomes

• On completion of this module students should:
• Have an understanding of the general objectives of tax, the influences upon the UK system of tax and the different types of tax in the UK;
• Have an appreciation of the ethical issues arising in the course of performing tax work and be able to identify the obligations the UK system of tax imposes on taxpayers and the implications for taxpayers of non-compliance;
• Be familiar with capital gains tax, income tax, national insurance, corporation tax and VAT.

• On completion of this module students should:
• Be able to calculate the amounts of income tax owed by or owed to individuals
• Be able to calculate the capital gains tax payable by individuals
• 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 national insurance payable by individuals and businesses
• Be aware of ethical tax practice

• Skills in data handling and synthesis
• Problem solving skills
• Presenting information effectively
• Ability to take responsibility for own studies, to undertake and manage independent investigation and adhere to deadlines
• Ability to communicate effectively

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 blended learning materials, workshops and independent study; workshop activities and discussions will provide technical awareness of topics in a comprehensive form.
• Formative assessment will provide feedback to students regarding their ability to practice taxation in different scenarios and contexts.
• The summative assessment addresses students’ understanding of the main tax concepts and technical treatments.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

Mock exam

■ 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