2019/20 Undergraduate Module Catalogue

LUBS3690 Principles of Taxation

20 creditsClass Size: 60

Module manager: Joanna Ye
Email: Y.Ye@lubs.leeds.ac.uk

Taught: Semesters 1 & 2 (Sep to Jun) View Timetable

Year running 2019/20

Pre-requisite qualifications

LUBS2290 Intermediate Financial Accounting
OR
LUBS2291 Financial Accounting and Reporting
OR
LUBS2205 Corporate Finance
OR
LUBS2206 Corporate Financial Management

This module is approved as a discovery module

Module summary

Principles of Taxation provides an insight into the theory and practice of the UK taxation system. It provides an overview of the general objectives of tax, its theoretical underpinnings, the relationship between taxation and fiscal policy as well as the details of tax calculations and practical tax advice to companies and individuals in straightforward scenarios.

Objectives

This module aims to provide students with the knowledge and skills to enable them to understand the general objectives of tax, its theoretical underpinnings and the relationship between taxation and fiscal policy and prepare tax computations and provide tax advice to individuals and companies in straightforward scenarios.

Learning outcomes
Upon completion of this module students will be able to:
- Interpret and outline the general objectives of tax, the influences upon the UK system of tax and the different types of tax in the UK
- Analyse and explain the theoretical underpinnings of the UK tax system and its relation to government fiscal policy
- Critically assess the ethical issues arising in the course of performing tax work and identify the obligations the UK system of tax imposes on taxpayers

Skills outcomes
Upon completion of this module students will be able to:
Transferable
- Apply numerical and statistical skills to manipulate and interrogate financial and other numerical data
- Extract relevant information from structured scenarios and data in order to identify problems and define solutions
- Structure and communicate quantitative and qualitative information, ideas, analysis, argument and commentary
- Demonstrate critical thinking when communicating in writing at an academic level

Subject Specific
- Calculate the amount of tax payable by companies and individuals and provide practical tax advice

Syllabus

Indicative content
- The principles of taxation
- The framework of taxation
- Direct and indirect taxation
- Private equity and taxation
- Environmental taxes
- Capital gains tax
- Corporation tax
- Income tax
- Inheritance tax
- National insurance
- Value added tax
- Tax planning
- Current issues and developments

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	20	1.50	30.00
Seminar	9	1.00	9.00
Independent online learning hours			20.00
Private study hours			141.00
Total Contact hours			39.00
Total hours (100hr per 10 credits)			200.00

Private study

Students are required to undertake specified pre-reading and question preparation in advance of the classes based on the material introduced in the lectures. This includes some online pre-reading and formative questions.

Opportunities for Formative Feedback

- Students will be able to monitor their progress through fortnightly seminars. Model answers for quantitative questions and marking schemes for workshop and a sample exam against which students can assess their own performance;
- Students are strongly encouraged to hand in a practice essay which will be used to provide formative feedback as preparation for the examination
- Teaching staff on the module will be available at set desk times each week to give students the opportunity to deal with problems as they arise and receive feedback on an ongoing basis.

Methods of assessment

Exams

Exam type	Exam duration	% of formal assessment
Standard exam (closed essays, MCQs etc)	3 hr 00 mins	100.00
Total percentage (Assessment Exams)		100.00

The resit for this module will be 100% by 3 hour examination.

Reading list

The reading list is available from the Library website

Last updated: 03/09/2019

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