You will learn an introduction to the UK Tax system. Income Tax - Tax Rates, Tax Bands, Personal Allowances, Benefits in Kind, Residency and Domicile, share and share option incentive schemes for employees, payments on the termination of employment, and other lump sums received by employees.

Property business profits, the treatment of furnished holiday lettings, rent-a-room relief. The amount assessable when a premium is received for the grant of a short lease, the restriction on property income finance costs, and relief for a property business loss. The tax payable on savings and dividends income. Recognise the treatment of individual savings accounts (ISAs) and other tax-exempt investments. The accrued income scheme applies to UK Government securities (gilts).

Capital Gains Tax includes the scope of the taxation of capital gains, the basic principles of computing gains and losses, gains and losses on the disposal of movable and immovable property, gains and losses on the disposal of shares and securities, the computation of capital gains tax, the use of exemptions and reliefs in deferring and minimising tax liabilities arising on the disposal of capital assets.

Inheritance Tax (IHT) – The basic principles of computing transfers of value such as the liabilities arising on chargeable lifetime transfers and on the death of an individual, the use of exemptions in deferring and minimising inheritance tax liabilities, and payment of inheritance tax.

Tax Evasion & Tax Avoidance - Explain the difference between tax avoidance and tax evasion, and the purposes of the General Anti-Abuse Rule (GAAR).

National Insurance Contributions – different classes, primary and secondary contributions, annual maximum contributions.

Debate (15 mins) (20%) (LOs 2) You will be required to plan a debate on topics provided by the tutor to the group. After the debate, you will be required to produce a short article (up to 300 words) reflection on the tutor and peer feedback received from your session.

An exam length: 2 hours plus 10 minutes of reading time. (80%) (LOs 1, 3-4)

The learning strategy for the module requires students to commit 200 learning hours (including assessment) of which there will be 52 hours of tutor-led learning and 148 hours of independent and self-directed study.

The number of study hours for this module is 200 hours to meet the Professional Body accreditation requirements.

Students will engage with:

- A mix of lectures/tutorials/large and small group activities, plus self-directed learning. Learning support material will be provided for independent/self-directed learning

- Participation in group activities, including presentations

- Directed reading

- Their own (contemporary) research

- Formative assessment e.g., online tests

1. Understand the role, structure and general principles of a country's taxation system.

Enquiry & Understanding.

2. Explain the taxation and compliance obligations of individuals.

Knowledge, Understanding & Communication.

3. Construct personal computations for individuals.

Application, Knowledge & Problem Solving.

4. Reflect on tax rules associated with specific areas of income.

Enquiry & Reflection.

The University Library and Learning Resources

Books and academic journals

The module VLE

Electronic databases

Learning support materials

IT facilities

Presentation facilities

Melville A. Taxation: Finance Act (current Edition). FT Prentice Hall.

Lymer A and Oats L. Taxation: Policy and Practice. current Edition. Fiscal Publications.

Online resources will be used, as appropriate, such as:

Websites of UK CCAB Accounting Bodies

Websites of International Accounting Bodies

You will develop your knowledge and understanding of the UK taxation policy as applicable to individuals with the latest United Kingdom Finance Act which received Royal Assent. You will explore the application of technical knowledge and professional judgement to identify and critically appraise alternative tax treatments to personal taxation issues.