Introduction to UK Taxation
Module description
In this module you will explore the mechanics of how the tax system in the UK operates including how it is administered and practical aspects of providing tax advice to clients. The module covers, at an introductory level, the key direct taxes in operation in the UK, specifically income tax, capital gains tax and corporation tax.
Full module specification
| Module title: | Introduction to UK Taxation |
|---|---|
| Module code: | BEAM059 |
| Module level: | M |
| Academic year: | 2016/7 |
| Module lecturers: |
|
| Module credit: | 15 |
| ECTS value: | 7.5 |
| Pre-requisites: | None. |
| Co-requisites: | None. |
| Duration of module: |
Duration (weeks) - term 1: 11 |
Module aims
The aim of this module is to develop your analytical and critical thinking skills with particular reference to UK tax policy. You will learn through a combination of taught sessions and group activities in which you will develop an understanding of how the UK tax rules operate and how various planning techniques can be used to reduce tax liabilities.
ILO: Module-specific skills
- 1. Analyse the historical development of the UK taxation system.
- 2. Evaluate features of different forms of taxation in the UK.
- 3. Compute tax liabilities under the current UK rules for income tax, capital gains tax and corporation tax
ILO: Discipline-specific skills
- 4. Explain the design of the UK tax system.
- 5. Advise on tax planning options and strategies for individuals and corporations.
- 6. Apply tax techniques in assimilated case studies to appreciate tax in the workplace environment
ILO: Personal and key skills
- 7. Use analysis and critical thinking to evaluate arguments, assumptions, concepts and data, to make judgments, recommendations or to frame appropriate questions
- 8. Identify key problems and then use relevant qualitative and quantitative information to solve them.
- 9. Professionally present information in a variety of written formats aimed at different specialist and non-specialist audiences.
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 30 | 120 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled learning and teaching activities | 30 | Attending taught sessions |
| Group-based activities undertaken in preparation for taught sessions | 40 | Attending taught sessions Preparation for taught sessions |
| Reflection, reading and preparation for assessment | 80 | Reflection, reading and preparation for assessment |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| In-class exercises | Size of the assessment e.g. duration/length | 1-7 | Tutor feedback |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 20 | 80 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Individual report | 20 | 2000 words due week 8 | 2-9 | Written feedback |
| Fortnightly MCQ test | 10 | 7 weekly MCQ tests. 6 questions per test. Weeks 2-10. | 1-5, 8 | Online feedback afetr test date |
| Final Examination | 70 | 2 hours | 1-9 | Soultions uploaded to ELE with examiner's report on overall performance |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Individual report | 2,000 word individual essay (20%) | 2-9 | July |
| MCQ tests and Exam | 2 hour Examination (80%) | 1-9 | August |
Re-assessment notes
Three assessments are required for this module. If you do not pass the module then you willbe required to resit the failed components as follows:
- Where you have been referred for the individual report, you will complete an individual essay which will constitute 20% of the module.
- Where you have been referred in the 10% MCQ tests and or 70% examination, you will have the opportunity to take a re-assessment in the form of an examination in the August/ September re-assessment period. This will constitute 80% of the module.
Syllabus plan
The syllabus covers the following areas:
- Historical development of the UK taxation system
- Tax administration
- Introduction to Income Tax
- Taxing employment income in the UK
- Taxing business income in the UK
- Taxing capital gains in the UK
- Introduction to UK corporation tax
- Tax planning for UK resident taxpayers
- Providing tax advice including ethical issues.
Indicative learning resources - Basic reading
Textbook: Lymer, A. and Oats, L. (2016) Taxation Policy and Practice, 23rd edition, Birmingham: Fiscal Publications.
Module has an active ELE page?
Yes
Indicative learning resources - Web based and electronic resources
You will have access to an online searchable and resources database, with links to several eBooks available on through the Exeter Learning Environment (ELE). Within this environment, you will also be supported through online discussion forums and activities.
Indicative learning resources - Other resources
Relevant academic journals
- British Tax Review
- International Tax Review
- International Tax and Public Finance
- Tax Law Review
- Tax Adviser
- European Taxation
Origin date
01/01/2016
Last revision date
15/09/2016