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.
| Type | Hours |
|---|---|
| Lecture | 24 |
| Preparation for scheduled sessions | 30 |
| Tutorial | 10 |
| Revision | 30 |
| Wider reading or practice | 20 |
| Completion of assessment task | 6 |
| Follow-up work | 30 |
| Total study time | 150 |
Resources & Reading list
James S & Nobes C (2016/2017). The Economics of Taxation.
Lymer & Oats (2019). Taxation: Policy and Practice, 2019-20.
Miller and Oats (2014). Principles of International Taxation.
Combs, Dixon and Rowes. Taxation – Incorporating the 2019 Finance Act.
Schanz, D, Schanz, S (2011). Business Taxation and Financial Decisions.
Assessment
Formative
Multiple choice question
Summative
| Method | Percentage contribution |
|---|---|
| Examination (2 hours) | 70% |
| Multiple choice Test (1 hours) | 30% |
Repeat
| Method | Percentage contribution |
|---|---|
| Examination (2 hours) | 100% |
Referral
| Method | Percentage 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.