module specification

AC5065 - Taxation - Corporate Tax (2021/22)

Module specification Module approved to run in 2021/22
Module title Taxation - Corporate 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%   Coursework: 1000 words.
Unseen Examination 70%   2 hours closed book exam
Running in 2021/22
Period Campus Day Time Module Leader
Spring semester North Friday Morning
Spring semester North Friday Afternoon

Module summary

The Module builds upon the knowledge gained in Autumn term from Income Tax Module.
The Module Aims to develop

  1. Understanding of the theoretical bases underlying UK taxation
  2. Skills in tax computations based on the current Finance Act
  3. Understanding of international taxation issues.

Syllabus

  1. Corporation tax  for companies - LO1
  2. Company loss relief and group relief - LO1
  3. Capital gains tax; - LO1
  4. Inheritance taxation - LO1
  5. Value added tax - LO1 
  6. Incorporation as part of tax planning for small businesses - LO2
  7. Economic theory of Taxation - LO3
  8. Outline of International Taxation - 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 and past exam questions.

Learning outcomes

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

LO1) Prepare tax computations for corporation tax, capital gains tax,  inheritance tax
         and value added tax 

LO2) Provide basic tax planning advice to small businesses

LO3) Explore tax planning opportunities

Assessment strategy

The assessment strategy for the module will comprise two elements:

 

1. Coursework - the coursework will require students to produce a 1000 (max) words individual piece of work based on given scenario.


2. Written Exam - the end-of-year examination will be a two-hour closed book assessment requiring students to answer a mix of numerical and discursive questions.

Bibliography

Textbooks:
Essential  texts:
Melville, A. Taxation, (Current Finance Act);  Pearson
James, S. and Nobes ,C. (2017) The Economics of Taxation; 17th edition, Fiscal Publications.
Other texts:
Jones, C. Newman, R. and Hayes, C. Tolley’s Tax Guide (Current  Finance Act)

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