Module Information

Module Identifier
Module Title
Academic Year
Semester 1

Course Delivery

Delivery Type Delivery length / details
Lecture 18 Hours.
Seminars / Tutorials 4 Hours.


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.


This module is available to all students from all disciplines. A financial or numerical background is not needed and there are no prerequisites.

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.


The content is delivered in six sections:
  • Introduction to taxation; including consideration of the objectives, the operation, scope and evaluation of taxation systems and sources of UK tax law
  • The UK Tax System: Income Tax (students need to explain and compute the income tax liabilities of individuals, including the effect of National Insurance contributions), Corporation Tax (students need to explain and compute the corporation tax liabilities of companies and groups of companies), Capital Gains Tax (students need to explain and compute chargeable gains arising on companies and individuals), Inheritance Tax (students need to explain and compute Inheritance tax liabilities of individuals), Value Added Tax (students need to explain and compute the effects of VAT).
  • Principles of Taxation: Incidence, efficiency, equity, compliance and administrative costs (obligation of taxpayers, implication of non-compliance and ethical issues)
  • International Taxation: taxation of cross border transactions and interaction between jurisdictions.
  • Current issues in tax policy: E-commerce and tax competition
  • Principles of tax planning (tax evasion, tax avoidance) 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 Text
In 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 (2010-11) Taxation: Policy and Practice, (Previous editions can be used if allowance is made for subsequent change in legislation) 17th 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 (2010/2011) Economics of Taxation, 10th edition Fiscal publications Primo search Scholes, M S, Wolfson, M A, Erickson, M, Maydew, E L and Shevlin, T (2002) Taxes and Business Strategy: A Planning Approach, 2nd edition Prentice Hall Primo search Stiglitz, J E (2000) Economics of the Public Sector, 3rd edition W W Norton & Company Primo search


This module is at CQFW Level 6