Fiscal Studies module (BU40006)

Taxation is the process by which governments impose financial charges on individuals, businesses, and entities within the UK.

It is a means of generating revenue to fund public services and infrastructure. Taxation involves enforcing tax laws and compliance by taxpayers.

Learning about taxation is important for understanding legal obligations, optimising financial planning, making informed decisions, protecting assets, and advancing professional opportunities.

It enables compliance, maximises savings, evaluates risks, and enhances career prospects in accounting and finance.

What you will learn

In this module you will:

• develop an understanding of the scope and principles of Capital Gains Tax, Inheritance Tax, and Corporation Tax including all relevant reliefs and exemptions
• develop an understanding of the principles of tax planning, tax avoidance and ethics, the Scottish taxes, including the principles and recent developments, and relevant aspects of international taxation and current tax issues

By the end of this module, you will be able to:

• discuss administration aspects of Capital Gains Tax, Inheritance Tax, and Corporation Tax, utilising the appropriate exemptions and reliefs where available
• compute the Capital Gains Tax liability of a UK resident individual, the Inheritance Tax liability during lifetime and on death of a UK resident individual, and the taxable profits and Corporation Tax liability of a UK resident company.
• critically discuss current tax issues including relevant aspects of international taxation, tax planning, tax avoidance, and ethics, along with the devolved and partially devolved Scottish taxes

Assignments / assessment

• Class test (20%)
• Final exam (80%)

Teaching methods / timetable

The module will be delivered via a combination of on-campus (face-to-face) lecture sessions and tutorials. Learning material is provided through videos, review notes, examples, and tutorial questions.

Sessions include:

• one hour lecture twice a week
• one hour tutorial weekly

During certain weeks additional sessions may be arranged to provide additional examples.