Module overview
The advanced taxation module will expand Auditing and Taxation module (Year Two) which is offered an understanding of the principles underlying the design of an effective taxation system and how operate for different taxes (income, wealth and corporation). The advanced taxation module will introduce more advanced issues related to: the effects of public tax policies at business level (investment and financial decisions) and personal level, advanced issues in Capital Taxes, Taxation for Groups of companies and the international implications of these groups, Introduction to Tax Planning at above levels, Principals of International Taxation, Tax Avoidance, Tax Havens, Double Taxation and sustainability (the use of short-term or long-term tax policies to sustain economic stability).
Linked modules
Pre requisites: MANG2066
Aims and Objectives
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- the analysis of the effects of taxation aspects at international level;
- the various aspects of the UK tax system with possible alternative tax systems.
- 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 influences on tax practices on various theories in tax policy;
- advanced practical tax issues about operating tax system with intensive reflection on the UK tax system;
- the implications of international taxation on the governments’ policies, businesses and individuals;
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- prepare computation for the UK corporation tax for groups and all personal taxes in practice;
- 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.
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;
Syllabus
•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
Learning and Teaching
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.
| Type | Hours |
|---|---|
| Lecture | 24 |
| Wider reading or practice | 20 |
| Revision | 30 |
| Follow-up work | 30 |
| Preparation for scheduled sessions | 30 |
| Tutorial | 10 |
| Completion of assessment task | 6 |
| Total study time | 150 |
Resources & Reading list
Textbooks
Schanz, D, Schanz, S (2011). Business Taxation and Financial Decisions. Berlin Heidelberg: Springer-Verlag.
Lymer & Oats (2023). Taxation: Policy and Practice, 2023-24. Fiscal Publications.
Combs, Dixon and Rowes. Taxation – Incorporating the 2023 Finance Act. Fiscal Publications.
James S & Nobes C (2023/2024). The Economics of Taxation. Fiscal Publications.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
Multiple choice question
- Assessment Type: Formative
- Feedback: Feedback will include verbal feedback about the theory behind each question and an individual written feedback if you have submitted your pre-designed answer sheets.
- Final Assessment: No
- Group Work: No
Summative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Multiple choice question | 30% |
| Examination | 70% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
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.
| Method | Percentage contribution |
|---|---|
| Examination | 100% |
Repeat Information
Repeat type: Internal & External