Advanced Taxation

Learning Outcomes

Knowledge and Understanding

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

• the various aspects of the UK tax system with possible alternative tax systems.
• the influences on tax practices on various theories in tax policy;
• the implications of the public tax policies at financial and investment decisions for both individuals and businesses with a brief highlight about the international implications;
• the implications of international taxation on the governments’ policies, businesses and individuals;
• advanced practical tax issues about operating tax system with intensive reflection on the UK tax system;
• the analysis of the effects of taxation aspects at international level;

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• demonstrate (both in writing and using calculation) intellectual skills associated with analysis, application and critical evaluation of tax in practice, and their effects on individuals, businesses and society.
• prepare computation for the UK corporation tax for groups and all personal taxes in practice;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• demonstrate learning, problem solving, and numeracy skills;
• communicate ideas and argument fluently and effectively in a variety of written forms;

• Introduction (principles of tax system design, desirable characteristics; tax bases, rates, and various tax’s classifications).
• Impacts of a tax system (economic, financing decisions and behavioural incentives and distortions and taxation and sustainability).
• Personal taxation (the main features of the UK personal taxation system and capital taxes).
• Property Income and Investments
• Pension Schemes
• National Insurance Contributions
• Capital Allowance
• Capital Gains Tax (CGT), CGT reliefs and CGT implications shares for individuals and companies.
• Introduction to Inheritance Tax
• Self-Assessment and Payment of Tax for Individuals and Companies
• Opening/closing years rules and Long Period of Account
• Taxation of business profits at all levels (small businesses, partnerships, companies, and multi-national entities) and the main features of the UK system of corporation tax
• Groups’ reliefs consequences
• Indirect taxes Main features of VAT and excise duties.
• Introduction to International taxation, Tax Planning and The Double Taxation and DTA
• International Tax Avoidance and Tax Competition

Teaching and learning methods

The module will commence and include a mix of weekly lectures, classes and practical sessions. Selected exercises will be used to provide formative feedback to students. Additional exercises and reading will be set for private study.

Resources & Reading list

Textbooks

James S & Nobes C (2023/2024). The Economics of Taxation. Fiscal Publications.

Combs, Dixon and Rowes. Taxation – Incorporating the 2023 Finance Act. Fiscal Publications.

Lymer & Oats (2023). Taxation: Policy and Practice, 2023-24. Fiscal Publications.

Schanz, D, Schanz, S (2011). Business Taxation and Financial Decisions. Berlin Heidelberg: Springer-Verlag.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External