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MANG3076 Advanced Taxation

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).

Aims and Objectives

Module Aims

to build on the knowledge you have gained in MANG2066 Principals Auditing and Taxation module. You will develop a number of valuable lifelong skills in this module, including time-management, research, critical thinking, analytical review, forming an argument, report writing, team-working, and creative design.

Learning Outcomes

Knowledge and Understanding

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

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

TypeHours
Revision30
Tutorial10
Lecture24
Follow-up work30
Completion of assessment task6
Wider reading or practice20
Preparation for scheduled sessions30
Total study time150

Resources & Reading list

Schanz, D, Schanz, S (2011). Business Taxation and Financial Decisions. 

Miller and Oats (2014). Principles of International Taxation. 

Lymer & Oats (2019). Taxation: Policy and Practice, 2019-20. 

James S & Nobes C (2016/2017). The Economics of Taxation. 

Combs, Dixon and Rowes. Taxation – Incorporating the 2019 Finance Act. 

Assessment

Formative

Multiple choice question

Summative

MethodPercentage contribution
Examination  (2 hours) 70%
Multiple choice Test  (1 hours) 30%

Repeat

MethodPercentage contribution
Examination  (2 hours) 100%

Referral

MethodPercentage contribution
Examination  (2 hours) 100%

Repeat Information

Repeat type: Internal & External

Linked modules

Pre requisites: (MANG1001 or MANG1004) and (ECON1001 or ECON1003 or ECON1009) and MANG2066

Costs

Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Textbooks

Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the mandatory/additional reading text as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.

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