Tax Compliance and Fiscal Studies module (BU51005)

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

The generated revenue is then used to fund public services, infrastructure and defence etc.

You will explore the UK tax system and the main UK taxes, how they are administered, enforced and calculated.

Learning about taxation is important to ensure compliance as well as optimising financial planning, protecting assets, and widens your career options.

What you will learn

In this module, you will:

• learn about the principles of the UK tax system, tax planning, ethics, tax avoidance, and aspects of international taxation
• learn about individual income including property, investment, and employment and how to calculate an individual's income tax liability
• gain knowledge and understanding of capital gains tax, inheritance tax and corporation tax including all relevant reliefs and exemptions

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

• recognise and categorise different sources of income and expenditure and calculate tax liability for individuals for personal tax and trading income for individuals and partnerships
• discuss administration aspects of Capital Gains Tax, Inheritance Tax and Corporation Tax, applying any exemptions and reliefs when available
• calculate the following tax liabilities, capital gains tax of a UK resident individual, inheritance tax liability during lifetime and on death of a UK resident individual and the taxable profits and the 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

Assignments / assessment

The coursework comprises of the following:

• Class Test (20%)
• Final Exam (80%)

Teaching methods / timetable

You will learn via on-campus (face-to-face) lecture sessions and tutorials.

This will involve taking part in tutorials and practical sessions.

Learning material is provided through videos, review notes, examples, and tutorial questions.

Each week you will attend:

• 2 x two-hour lectures
• 1 x two-hour tutorial (from Week 2)
• Additional sessions may be arranged to provide additional examples.