Introduction to UK Taxation
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 and capital gains tax.
Full module specification
|Module title:||Introduction to UK Taxation|
Available to students on the MSc Accounting and Taxation and MSc Accounting and Finance only.
|Duration of module:||
Duration (weeks) - term 1: |
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 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 key 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.
- 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 judgements, recommendations or to frame appropriate questions
- 8. Identify key problems and then use relevant qualitative and quantitative information to solve them.
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled learning and teaching activities||30||Attending taught sessions|
|Guided Independent Study||40||Preparation for taught sessions|
|Guided Independent Study||80||Reflection, reading and preparation for assessment|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|In-class exercises||Weekly questions with de-briefs in class||1-8||Tutor feedback|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Weekly MCQ tests||20||8 weekly MCQ tests. 6 questions per test. Weeks 2-10.||1-5, 8||Online individual feedback and general cohort feedback after test date|
|Final Examination||80||2.5 hours||1-8||Solutions 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|
|Weekly MCQ tests||MCQ assessment with 10 questions (20%)||1-8||Referral/Deferral period|
|Final Examination||2.5 hour examination (80%)||1-8||Referral/Deferral period|
Two assessments are required for this module. If you do not pass the module then you will be required to sit the failed assessments during the August exam period.
A student, if deferred in a single component, will be reassessed in that component only.
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 and National Insurance contributions
- Taxing business income in the UK
- Taxing capital gains in the UK
- Tax planning for UK resident taxpayers
- Providing tax advice including ethical issues
Indicative learning resources - Basic reading
Textbook: Lymer, A. & Oats, L. (2020) Taxation policy and practice, 27th edition, Birmingham: Fiscal Publications.
Module has an active ELE page?
Indicative learning resources - Web based and electronic resources
ELE – College to provide hyperlink to appropriate pages
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
Last revision date