You will learn Introduction to Business Taxation; an overview of self-employment (sole traders and partnerships), company taxation, National Insurance and VAT; Choosing the right legal structure: The Badges of Trade. Basis periods for the self-employed - overlap profits, income from self-employment and calculation of trading income. Capital Allowances - annual investment allowance, first-year allowances, annual writing down allowances, balancing allowances and charges. Partnerships - notional profits and losses, change in partnership composition, non-trading income, Self-employment trading losses.

Introduction to Corporation Tax - scope, accounting periods, calculation of chargeable profits, trading income, income from property, loan relationships, franked investment income, long periods of account. Corporate Chargeable Gains - chargeable disposals and chargeable assets, basis of assessment, computation of gains and losses, an indexation allowance, disposal of shares and securities. Further Aspects of Corporation Tax - relief for trading losses, anti-avoidance provisions, repayments of CT, groups of companies and associated companies, group relief, incorporation.

Introduction to VAT - principles, rates, exempt, zero rate, imports and exports, registration rules, the effect of special schemes accounting for VAT. Further Aspects of VAT - deregistration, flat rate and cash accounting schemes for small businesses, partial exemption, penalties and surcharges.

1. Group Presentation (15 mins) (20%) (LOs 2). You will be required to plan a presentation for the group with specific needs and deliver the session during class-time.

2. An exam length: 2 hours plus 10 minutes 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. Explain and compute the corporation tax liabilities of companies and groups of companies.
Enquiry, Application & Analysis

2. Explain the taxation and compliance obligations of businesses/companies.
Knowledge, Understanding & Communication

3. Construct business taxation computations (unincorporated and incorporated)
Application, Knowledge & Problem Solving

4. Reflect on business 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 single companies, and groups of companies 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 business taxation issues.