Module Information
Course Delivery
| Delivery Type | Delivery length / details |
|---|---|
| Lecture | 18 Hours. |
| Seminars / Tutorials | 4 Hours. |
Assessment
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Exam | 3 Hours Unseen written examination | 100% |
| Supplementary Exam | 3 Hours Unseen written examination Students may, subject to Faculty approval, have the opportunity to resit this module, normally during the supplementary examination period. | 100% |
Learning Outcomes
On successful completion of this module students should be able to:
* Describe and apply the basic rules of UK taxation, in particular those relating to Income Tax, Capital Gains Tax, Corporation Tax, Inheritance Tax and Value Added Tax;
* Evaluate potential bases of taxation in terms of their efficiency, equity and cost of compliance;
* Identify and critically discuss the key issues in taxation at the inter-state level;
* Critically discuss the possible influences of taxation on the functioning of capital markets; and
* Evaluate the economic significance of current developments in taxation.
Aims
The module is designed to provide students with an understanding of the principles underlying the design of an effective taxation system, an introduction to the UK Tax System and an appreciation of current policy issues in taxation.
Brief description
The module focuses on four main aspects: (i) the economic characteristics and assessment of effective tax system design; (ii) a broad description of the UK tax system; (iii) international considerations including tax co-ordination, competition and the taxation of e-commerce; and (iv) conceptual issues in tax planning and the impact of taxation on capital markets.
Content
- Introduction to taxation: including consideration of the objectives and evaluation of taxation systems.
- The UK Tax System: Income Tax, Corporation Tax, Capital Gains Tax, Inheritance Tax and Value Added Tax.
- Principles of Taxation: incidence, efficiency, equity, complaince and administrative costs.
- International Taxation: taxation of cross border transactions and interaction between jurisdictions.
- Current issues in taxation policy: E-commerce and tax competition.
- Principles of tax planning and capital market effects of taxation.
Transferable skills
Students taking this module will have the opportunity to develop and practice a wide range of transferable skills. In lectures students will develop listening and note taking skills. In preparation for tutorials students will develop their reading, note taking, analytical, independent research, writing and IT skills. Tutorial discussions will help students to develop their listening, explaining and debating skills, as well as team work and problem solving. The examination will test students' analytical and writing skills under time constraints.
Reading List
Supplementary TextIn addition to these texts students are required to read a number of journal articles. A full reading list and module outline will be avaliable via blackboard and will be distributed in the first lecture. Primo search Should Be Purchased
Lymer, A and Oats, L (2011-12) Taxation: Policy and Practice, (Previous editions can be used if allowance is made for subsequent change in legislation) 18th edition Fiscal Publications. Primo search Recommended Text
The following four texts will be required reading for parts of the module. There is no one single textbook that covers the syllabus. Instead students are recommended to have ready access to these three books listed below and the Lymer and Oats book listed above. Primo search (2002) The International Taxation System, edited by A Lymer and J Hasseldine, Boston: Kluwer Academic Publishers Primo search James, S and Nobes, C (2011/2012) Economics of Taxation, 11th edition Fiscal publications Primo search Scholes, M S, Wolfson, M A, Erickson, M, Maydew, E L and Shevlin, T (2008) Taxes and Business Strategy: A Planning Approach, 4th edition Prentice Hall Primo search Stiglitz, J E (2000) Economics of the Public Sector, 3rd edition W W Norton & Company Primo search
Notes
This module is at CQFW Level 6