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|
|Running in 2021/22||
The Module builds upon the knowledge gained in Autumn term from Income Tax Module.
The Module Aims to develop
- Understanding of the theoretical bases underlying UK taxation
- Skills in tax computations based on the current Finance Act
- Understanding of international taxation issues.
- Corporation tax for companies - LO1
- Company loss relief and group relief - LO1
- Capital gains tax; - LO1
- Inheritance taxation - LO1
- Value added tax - LO1
- Incorporation as part of tax planning for small businesses - LO2
- Economic theory of Taxation - LO3
- 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.
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
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.
Melville, A. Taxation, (Current Finance Act); Pearson
James, S. and Nobes ,C. (2017) The Economics of Taxation; 17th edition, Fiscal Publications.
Jones, C. Newman, R. and Hayes, C. Tolley’s Tax Guide (Current Finance Act)
Taxation Magazine: www.taxation.co.uk