INTRODUCTION TO TAXATION - 2024/5

Module code: MAN2210

Module Overview

This module introduces students to the subject of taxation and provides the core knowledge of the underlying principles and major technical areas of taxation as they affect the activities businesses, both incorporated and unincorporated.

Module provider

Surrey Business School

Module Leader

ASHDOWN Rebekah (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

Module cap (Maximum number of students): N/A

Overall student workload

Independent Learning Hours: 117

Lecture Hours: 22

Seminar Hours: 11

Module Availability

Semester 2

Prerequisites / Co-requisites

None

Module content

Indicative content includes:


  • Capital Allowances: Classification of expenditure on capital assets in accordance with the statutory distinction between capital & revenue expenditure.

  • Computing assessable business income: Adjustment of trading profits and losses for tax purposes.

  • Preparing chargeable gains computations for businesses: including share pools, bonus and rights issues.

  • Preparing capital gains computations for sole traders and partnerships.

  • Corporation tax computations: trading profits and losses, capital allowances, investment income, loss reliefs and charges. Calculating corporation tax due including marginal relief and completing the HMRC forms.

  • Income tax computations for sole traders and partnerships: trading profits and losses, capital allowances, investment income, loss reliefs and charges. Calculating income tax due and completing the HMRC forms


Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test Class Test Set Date and Time (50 mins) 30
Examination Exam Set Time and Date (2 hours) 70

Alternative Assessment

Not applicable

Assessment Strategy

There are two summative assessments for this module: a class test and an end of semester examination.

Class test

The class test will comprise multiple choice questions and/or questions requiring short written answers. 

Examination

The exam paper will include scenario questions.  Questions may contain several parts (part (a), part (b) etc).

Assessment questions

Assessments will include both quantitative and qualitative questions.

Quantitative questions are designed to assess numerical, application of knowledge and analytical skills.

Qualitative questions will assess application of knowledge, synthesis, creative thinking and problem-solving skills.

Formative assessment and feedback

Formative assessments such as a sample class test and exam paper will be available to support students in preparation for summative assessments and to provide ongoing feedback. Such feedback will help students identify their strengths and weaknesses and help develop revision plans for the summative assessments.

Students are also expected to engage with other feedback provided during seminars and feedback and advice hours throughout the semester.

Module aims

  • introduce students to the functions of the tax system and the separate taxes that an accountant would need to be able to apply
  • develop an understanding of Corporation tax, income tax, national insurance and chargeable gains arising on disposals of investments for both individuals and companies
  • enable students to produce a complete corporation tax return and Income tax and capital gains tax calculations for the latest available Finance Act

Learning outcomes

Attributes Developed
001 Prepare capital allowances computations for all business types KCPT
002 Prepare assessable business income computations for self employed individuals KCPT
003 Prepare corporation tax computations for UK resident companies KCPT
004 Prepare chargeable gains computations for companies and capital gains computations for individuals KCPT
005 Show an understanding of current tax law and HMRC (Her Majesty's Revenue & Customs) practice and make submissions within statutory timescales KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Methods of Teaching / Learning

The learning and teaching strategy is based on a hybrid teaching model, incorporating elements of both live and on-demand learning.

On-demand learning is designed for students to explore the topics in their own time and includes a range of guided learning activities.  Guided learning activities may include pre-recorded videos, practice questions & solutions, quizzes, discussion forum and links to further reading.

Live learning allows students to explore and engage in discussions on the topics and also practise more complex questions and receive answers and feedback to queries from their tutor.

This learning and teaching strategy provides students with the opportunity to acquire knowledge and to understand the relevant theory and develop effective solutions for decision making in the context of case study scenarios.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MAN2210

Other information

None

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2024/5 academic year.