The University of Southampton
Courses

MANG2042 Tax Policy and Practice

Module Overview

Aims and Objectives

Module Aims

To provide an introduction to the principles of personal and business taxation. To examine some of the main features of UK taxation To analyse the effect of taxation on selected individual and business decisions.

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • Principles of personal and business taxation
  • The main features of the operation of selected UK taxes
  • Some theories of taxation policy and some possible alternative taxation systems.
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • Having successfully completed this module you will be able to: demonstrate learning, communication, problem solving, and numeracy skills.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • prepare simple computations for major UK taxes (e.g. income tax, corporation tax, national insurance, capital gains tax)
  • illustrate the effect of taxation on various individual and business decisions.
  • assess the influences on taxation practice of various theories in tax policy
  • compare aspects of the UK tax system with possible alternative systems
  • demonstrate (both in writing and using calculation) intellectual skills associated with analysis, application and critical evaluation of tax policy and practice, and their effects on individuals, businesses and society.

Syllabus

Introduction. Principles of tax system design: desirable characteristics; tax bases (income, expenditure, wealth), module and rates. Direct and indirect taxes. Impacts of a tax system: possible economic and behavioural incentives and distortions. Administration and compliance. International considerations. Personal taxation: taxation as it effects individuals. The main features of the UK personal taxation system. Taxation of business profits and companies: the problems of taxing business and corporate profits; the main features of the taxation of business profits in the UK; the main features of the UK system of corporation tax; issues in taxation of small businesses. Indirect taxes: Main features of VAT and excise duties; environmental taxes. Introduction to International taxation.

Learning and Teaching

Teaching and learning methods

Lectures, weekly classes and 6-7 hours per week of private study including reading and use of websites and working computational problems.

TypeHours
Independent Study116
Teaching34
Total study time150

Resources & Reading list

Lymer & Oats. (2012). Taxation: Policy and Practice, 2012-2013. 

Assessment

Summative

MethodPercentage contribution
Exam  (2 hours) 90%
Group mini-presentation 10%
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