Introductory description

This is an elective module available for WBS and non-WBS students. To find detailed availability and to apply for this module, log in to my.wbs.ac.uk using your normal IT login details and apply via the my.wbs module application system. Once you’ve secured a place on my.wbs you should apply via your home department’s usual process, which usually takes place via eVision. Note that you do not require the module leader’s permission to study a WBS module, so please do not contact them to request it.

The module explores aspects of UK taxation policy and practice providing insight into the key principles underlying the design of systems of business taxation. Its main areas of focus are placed on UK income tax, corporation tax, capital gains tax and VAT. The module supports students in gaining practical mastery of the computational aspects of these taxes, and contextualises this knowledge within a broader critical and reflective frame by exploring current, topical issues within the field of taxation. Through these discussions (which could include aspects of environmental taxation, the socio-political impacts of fiscal policy, or tax planning, avoidance and evasion) students have the opportunity to gain insights into the impact of taxation on business operations in the UK and the ability to critically evaluate tax policy developments.

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.

History of and background to the development of systems of business taxation both in general terms and specific to the UK.
Income taxation including the taxation of business profits and the taxation of employees of businesses.
Issues arising in the taxation of corporations.
Taxation of capital transactions.
Tax planning for businesses.
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

Latest edition of Lymer, and & Oats, Lynne: Taxation Policy and Practice. Birmingham: Fiscal Publications
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.