Introductory description

To develop students’ knowledge of key principles underlying the design of systems of business taxation.
To equip students with knowledge of specific aspects of those taxes which impact business operations in the UK.
To develop the ability of students to critically evaluate tax policy developments in relation to the taxation of business operations.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

1. History of and background to the development of systems of business taxation both in general terms and specific to the UK.
2. Income taxation including the taxation of business profits and the taxation of employees of businesses.
3. Issues arising in the taxation of corporations.
4. Taxation of capital transactions.
5. Tax planning for businesses.
6. Value added tax and its impact on business.

Learning outcomes

By the end of the module, students should be able to:

• Demonstrate knowledge of different forms of business taxation and how they affect both unincorporated and incorporated business.
• Demonstrate an ability to perform straightforward UK income tax corporation tax and VAT computations.
• Demonstrate the ability to locate UK business taxation within the wider social and economic environment.
• Demonstrate the ability to evaluate critically the current structure and impact of the UK business tax system in the context of recognised best practice.

Indicative reading list

Lymer, Andy, & Oats, Lynne (2018) Taxation Policy and Practice. (25th Edition). Birmingham; FiscalPublications. This text is the core text that is updated annually so there is a new edition each year to reflect tax changes. Students are required to purchase the current edition each year.
Additional (non-core) text: James, S. & Nobes, C. (2016) The Economics of Taxation: Principles, Policy and Practice (14th edition) Birmingham; Fiscal Publications.
We also use a number of key tax websites which I flag to students as follows:
Websites:
Her Majesty’s Revenue and Customs http://www.hmrc.gov.uk/
The Institute for Fiscal Studies http://www.ifs.org.uk/
Chartered Institute of Taxation http://www.tax.org.uk

Subject specific skills

Appraise strategies for business tax planning.

Transferable skills

Demonstrate oral and written communication skills.