AC6007: Advanced Taxation

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Please note this module descriptor is indicative of the structure of this course and may be subject to change.

AC6007: Advanced Taxation

Module Title Advanced Taxation
Module Code AC6007
Module Tutor Chris Wiltshire
School Business School
CAT Points 15
Level of Study 6
Brief Description

This Module is an advanced course in taxation, dealing with incorporated and unincorporated businesses and personal taxation. It will address the application of direct and indirect taxes on individuals, incorporated and unincorporated businesses. The syllabus includes the application of National Insurance to employed and self-employed individuals and employers

As this is a technical module set at a level equivalent to paper F6 of the ACCA professional examinations, a firm grasp of the principles and practice of taxation from ACC 207 is important. This course will develop that earlier material in much greater depth and there will be frequent opportunities to practice the computational aspects of the materials through worked examples and tutorial questions which will be set each week as classroom or private study exercises.

Indicative Syllabus The syllabus involves study in areas including: The operation and scope of the tax system, its regulatory framework and administration; application of statutory and non-statutory rules and case law on establishing the incidence of taxation. The professional and ethical requirements applying to accountants and others involved in taxation work Computation of the income tax liabilities of individuals including reliefs and allowances available to those entitled to additional age-related allowances. Computation of adjusted trading profits/losses for individuals and partnerships involved in unincorporated businesses and the incorporation of such resulting assessments in the tax returns of the individual Computation of the corporation tax liabilities, including the treatment of losses arising, of individual companies and simple groups of companies. Computation of the chargeable gains arising on companies and individuals. Computation of national insurance contributions on employees, employers and the self-employed. Assess the application of and prepare computations relating to the assessment of Value Added Tax on incorporated and unincorporated businesses. Identify and understand the obligations of taxpayers (individual and corporate), the implications of non-compliance, and the investigative powers and deterrents available to HM Revenue and Customs. Explain the principles of Inheritance Tax and apply them to individual taxpayers in straightforward scenarios.
Learning Outcomes
  1. An understanding of the framework in which the collection of tax is effected – for example, the legal, ethical and social environment; the role of professional tax advisor; the function and purpose of taxation and the role of HM Revenue and Customs;  (PLO1)
  2. Familiarity with the technical language and practices of taxation – for example, the preparation of a range of computations for individuals and business entities with simple elements of tax planning; (PLO2)
  3. Skills in critically analysing and interpreting tax legislation and extra-statutory guidance – for example, through determination of the incidence of taxation or reliefs to a given situation;  (PLO3)
  4. The ability to manage their learning independently, including being able to find, extract and analyse data from many different sources, and acknowledge and reference these appropriately; (PLO6)
  5. Skills in the use of communications and information technology in finding, analysing and applying information – for example, through the use of primary technical information sources, online websites etc; (PLO7)
  6. Communication and numerical skills, including the ability to present quantitative and qualitative information and arguments in open forum or in individual written and computational work, in a form which will be understood by its intended audience. (PLO8)
Learning and Teaching Activities Scheduled Contact Hours: 30
Independent Learning Hours: 120
Assessment (For further details see the Module Guide) 001: 100% Written Exam: End of module, unseen, closed book: 3.00 hours
Special Assessment Requirements
Indicative Resources The current reading list can be found in the Module Guide, which your lecturer should make available via Moodle.

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