Principles of Business Taxation

The business taxation module aims to enable you to understand the types of UK tax applicable to self-employed individuals, partnerships and companies, the ethical issues arising in the course of performing business tax work, the obligations imposed on UK taxpayers, and the implications of non-compliance. Furthermore, it aims to ensure that you can prepare tax computations for self-employed individuals, partnerships and companies in straightforward scenarios. This module also covers the completion of a company’s tax return and considers basic tax planning concepts.

The taxes covered in this module are:

• income tax for self-employed individuals
• national insurance
• corporation tax
• VAT

Topics covered

• Explaining the objectives, types of tax and ethics affecting self-employed individuals, partnerships and companies
• Preparing tax returns for companies
• Identifying and describing alternative strategies available to self-employed individuals, partnerships and companies
• Critically evaluating the legal and the ethical implications of a range of taxation strategies

Learning

• 20 one-hour lectures
• 5 one-hour tutorials

Assessment

The module is worth 15 credits towards your third year assessment and will be assessed by:

• A one-hour multiple-choice test (20%)
• A two-hour exam (80%)