School of Management, Unit Catalogue 2010/11 |
MN20444: Tax and tax planning |
 Credits:
| 6 |
| Level:
| Intermediate |
| Period: | This unit is available in... |
| Semester 2 |
| Assessment:
| CW 30%, EX 70% |
| Supplementary Assessment: | Like-for-like reassessment (where allowed by programme regulations) |
| Requisites:
| Before taking this unit you must take MN10311 or take MN10331 |
| Description:
| Aims: The unit aims to introduce students to: * The principles of effective tax system design, its impact on individuals, groups, the wider economy and society * The main types of taxation: - Income taxes: both business and personal - Capital taxes - Company taxation - Indirect taxation - International taxation issues * Types of tax planning opportunities and their application for individuals, family run businesses, SMEs and international businesses. Learning Outcomes: On completing this unit students will be able to: * Evaluate the impact of current developments in taxation, on individuals, groups, the wider economy and society including * Discuss the ethical and environmental issues arising from tax regulation; * Prepare computations of UK tax liabilities for each of the main types of taxation: income tax, capital gains tax, corporation tax and VAT; * Identify and evaluate opportunities for minimising the impact of taxation liabilities on individuals, family run businesses, SMEs and international business; * Provide tax related costing, planning and decision making information to individuals, businesses and corporate entities in the UK. Skills: Intellectual skills * present concepts and views effectively and discuss and defend ideas through written language (F/A) * extract, process and present numerical information for a specific purpose (TFA) Professional skills * Computational skills consistent with exemptions from taxation assessment in the examinations for the three main professional accountancy bodies: ICAEW, CIMA, ACCA (TA) * Ability to apply knowledge of taxation issues in an advisory capacity (TFA) Practical skills * use internet and library search skills to access contemporary relevant information (FA) * use IT competently (general IT skills including use of standard word processing packages and internet) (F) Key skills * act independently in planning and undertaking tasks, reflect on own learning and seek and make use of feedback. (F) Content: Principles of effective tax system design; ethical and environmental issues arising from tax system design; personal income tax; business and property taxation; capital gains tax; corporation tax; value added tax; international taxation issues. Tax planning issues will be integrated and woven through the content as the module progresses. |