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Taxation

Module description

Within this module we will explore the importance of taxation in society and its impact on government policy and the relationship of UK taxation to the accounting and finance function within organisations.

By the end of this module, you will be able to identify the implications for taxation reporting and obligations of organisational or client decision making and apply the principles of digital technology used to process data and fulfil organisational and HMRC digital taxation reporting requirements.

Finally, you will be able to analyse and summarise organisational or client decision making and the impact on taxation reporting and obligations.

Module aims - intentions of the module

The aim of this module will enable you to develop an understanding of how tax policies are set and react to changes in taxpayer behaviour and other forces. You will also explore the mechanics of how tax policy is administered and governed in the UK and how tax practitioners/accountants approach taxation with their clients.
Finally you will have the opportunity to analyse the impact UK tax rules have on taxpayers of different types (e.g. corporate entities, individuals) both directly and indirectly.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Evaluate the importance of taxation in society and its impact on government policy. (K17)
• 2. Analyse the relationship of UK taxation to the accounting and finance function within organisations. (K18)

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 3. Analyse the implications for taxation reporting and obligations of organisational or client decision making. (K19)
• 4. Apply the principles of digital technology used to process data and fulfil organisational and HMRC digital taxation reporting requirements. (K20)
• 5. Interpret and apply HMRC rules and guidance to produce tax calculations and statutory returns. (S16)
• 6. Implement and manage systems and processes that gather the information required by HMRC. (S17)
• 7. Implement and manage the technology to satisfy HMRC reporting requirements for digital taxation. (S19)

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 8. Analyse and summarise organisational or client decision making and the impact on taxation reporting and obligations. (S18)

Syllabus plan

• The UK tax system and its administration
• Income tax and National Insurance Contribution liabilities 
• Chargeable gains for individuals
• Inheritance tax
• Corporation tax liabilities 
• Value added tax (VAT)
• Employability and technology skills

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%

Indicative learning resources - Basic reading

Basic reading:

• Lymer, A., & Oats, L. (2022). Taxation policy and practice (29th ed.). Birmingham: Fiscal Publications.
• ICAEW - Professional conduct in relation to taxation (PCRT)
• What everyone needs to know about tax: an introduction to the UK tax system by James Hannam (2017); Wiley InterScience (Online service)
• Melville, A. (2022). Taxation: Finance Act, 2022. London: Pitman Publishing

Indicative learning resources - Web based and electronic resources

Web-based and electronic resources:

• ELE – Faculty to provide hyperlink to appropriate pages

Key words search

Taxation