|| AC32510 |
|| TAXATION |
|| 2001/2002 |
|| Professor Kevin Holland |
|| Semester 1 |
| Course delivery
|| Lecture || 14 Hours |
|| Tutorial || 4 Hours |
|| Essay || The assessment will be handed out in the first lecture || 20% |
|| Exam || 2 Hours || 80% |
The module focuses on four aspects of taxation:
the mechanics of the UK tax system
the economic considerations in tax policy
international considerations including the taxation of e-commerce
tax planning and the impact of taxation on capital markets
The module is designed to provide students with an appreciation of the principles underlying the design and impact of a taxation system and the principles underlying the various taxes that comprise the UK taxation system.
On completion of the module the student 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 current 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
1. Module introduction: Coverage of module and introduction to taxation using the UK taxation system as a basis of discussion.
2(a). Theory and practice of personal income and wealth taxes: UK Income Tax, Capital Gains Tax (CGT) and Inheritance Tax (IHT).
2(b). Theory and practice of corporate taxation: UK Corporation Tax and international considerations.
2(c). Sales taxes and Value Added Tax (VAT).
3. The incidence and cost of taxation: efficiency and compliance costs.
4. Interaction between sovereign taxation systems (International taxation); Behavioural responses to International taxation, tax co-ordination and tax competition and the taxation of e-commerce.
5. Tax planning and the influence of taxation on capital markets.
** Essential Reading
S. James and C. Nobes. (2000)
Economics of Taxation. 7th. Financial Times Prentice Hall