module specification

AC5064 - Taxation - Income Tax (2026/27)

Module specification Module approved to run in 2026/27
Module title Taxation - Income Tax
Module level Intermediate (05)
Credit rating for module 15
School Guildhall School of Business and Law
Total study hours 150
 
9 hours Assessment Preparation / Delivery
105 hours Guided independent study
36 hours Scheduled learning & teaching activities
Assessment components
Type Weighting Qualifying mark Description
Coursework 30%   Individual report - 1000 words
Examination 70%   Unseen Exam (1.5 hours closed book)
Running in 2026/27

(Please note that module timeslots are subject to change)
Period Campus Day Time Module Leader
Autumn semester North Friday Morning

Module summary

Module AC 5064 introduces the UK tax system. Structure of the HM Revenue and Customs and Administration of the tax system. It will cover income from employment and self-employment, rental income and income from savings and interest and the allowances available against this income for individuals and partnerships.
This module aims to:
1. Give student an understanding of the UK income tax system. 
2. Administration of the tax system
3. Taxation of individuals with income from a variety of sources including trading profits, savings and investments, rent and employment.
4. Preparation income tax computations for individuals and  unincorporated businesses

Prior learning requirements

Co-requisite for ACCA PSRB exemption for Taxation: AC5065

Syllabus

1. Introduction to the UK tax system  (LO1)

2. Income tax computations for taxpayers in a variety of circumstances (LO2/ LO4)

3. Trading income,  trading losses and capital allowances (LO2)

4. Partnership taxation (basis periods and notional losses) (LO2)

5. Income and benefits in kind from employment and NIC (employed and self employed contributions) (LO2)

6. Income from property (LO3)

 

Balance of independent study and scheduled teaching activity

Teaching will take the form of a weekly two hour lecture and one hour seminar. The lecture will provide the key principles behind taxation, an evaluation of different forms of taxation and application of UK tax rules through guided examples.

The seminar programme will run through question banks to develop students computational skills and apply understanding to personal and business taxation scenarios. Independent study is supported through further problem sets, set reading (articles from Accountancy Bodies) and past exam questions.

 

Learning outcomes

On successful completion of this module, students will be able to:

LO1. Understand key features of UK personal taxation

LO2. Compute and interpret tax liabilities under current UK rules for income tax for individuals and unincorporated businesses, including partnerships.

L03. Understand the basis of assessment and allowable expenditure for Rental Income

LO4. Communicate the information to the taxpayer(s) providing advice on payment dates and simple tax planning measures.

 

Bibliography

Library reading list link:
https://rl.talis.com/3/londonmet/lists/CF2E558C-7222-CB4C-3FCC-593AA10B9AB7.html

Textbooks:
Essential  texts:
• Melville, A. Taxation, (Current Finance Act);  Pearson
Other texts:

Websites: 
• HMRC:  www.hmrc.gov.uk
• Taxation Magazine: www.taxation.co.uk