ADVANCED TAXATION - 2024/5

Module code: MAN3244

Module Overview

This module introduces students to the remaining types of taxes not covered in “Introduction to Taxation” and deals with the effect of a group corporate structure for corporation tax purposes.

Module provider

Surrey Business School

Module Leader

HAN Liang (SII DUFE)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 6

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

Overall student workload

Workshop Hours: 11

Independent Learning Hours: 117

Lecture Hours: 22

Module Availability

Semester 1

Prerequisites / Co-requisites

n.a.

Module content

Indicative content includes:


  • The scope of Inheritance tax, the basic principles of computing transfers of value. The liabilities arising on chargeable lifetime transfers and on the death of an individual. The use of exemptions in deferring and minimising inheritance tax liabilities.

  • Computing assessable business income: Opening and closing year rules for unincorporated businesses. Partnerships assessable profits for each partner and loss relief claims.

  • Further Income tax issues: taxation of property income, pension schemes and providing for retirement

  • Further chargeable gains issues:  transfers between spouses, principal private residence exemption, letting relief, entrepreneur’s relief, rollover relief, holdover relief and incorporation relief.

  • The scope of value added tax, VAT registration requirements, computation of VAT liabilities and the effect of special schemes.

  • Corporation tax for groups of companies, group losses and the effect of a change in the company’s ownership on the use of its losses.


Assessment pattern

Assessment type Unit of assessment Weighting
School-timetabled exam/test Class Test Set Time and Date 30
Examination Exam Set Time and Date 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

  • Build understanding of a range of taxes including Income Tax, Corporation Tax, Capital Gains Tax, Value Added Tax and Inheritance Tax
  • Prepare tax computations
  • Critically evaluate alternative taxation options and advise clients

Learning outcomes

Attributes Developed
001 Discuss the operation and scope of the UK tax system KCPT
002 Calculate Income Tax & Inheritance Tax liabilities of individuals KCPT
003 Calculate tax liabilities of unincorporated and incorporated businesses KCPT
004 Calculate Value Added Tax liabilities for unincorporated and incorporated businesses 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: MAN3244

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.