BSc Accounting with Industrial/Professional Experience / Course details
Year of entry: 2022
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Course unit details:
Principles of Taxation
|Unit level||Level 2|
|Teaching period(s)||Semester 1|
|Offered by||Alliance Manchester Business School|
|Available as a free choice unit?||No|
This course has been designed to develop core technical, commercial, and ethical skills, and knowledge in a structured and rigorous manner. The aim of the course is to enable students to understand the general objectives of tax and to prepare various calculations in straightforward scenarios. Many business decisions will have tax consequences and will be discussed at board level. Tax is now very important and looks set to be in the media spotlight and affecting commercial decisions for the foreseeable future.
|Unit title||Unit code||Requirement type||Description|
|Financial Reporting and Accountability||BMAN21020A||Co-Requisite||Compulsory|
Pre-requisite course units have to be passed by 40% or above at the first attempt.
To enable students to understand and explain the general objectives of taxation, the considerations needed for tax design, the UK tax framework, as well as its international, ethical, and environmental context.
To enable students to prepare UK tax computations for individuals and companies, including Income Tax, National Insurance Contributions, Capital Gains Tax, Corporation Tax, and VAT.
To satisfy the requirements for accreditation for the ICAEW's Principles of Taxation paper (subject to students achieving 50% or higher).
A tax adviser needs to have not only knowledge of how calculations are performed but also be able to discuss why and how individuals and businesses are affected. There will be opportunities to practise the calculations, whilst gaining transferable skills such as communication, research, and evaluation.
On successful completion of this course, students will be able to:
- Understand the development of the UK tax system, and the political and economic - framework in which the UK tax system operates, including how this impacts the choice of taxation policy;
- Perform straightforward tax computations and give basic tax planning advice;
- Understand and discuss the basic principles of UK Income tax, Corporation Tax and Value Added Tax;
- Understand the principles of other UK taxes such as Inheritance Tax and Capital Gains Tax and the interaction thereof;
- Comment on the principles of case law which have driven major features of tax legislation;
- Comment on the ethics of taxation.
This course is designed to give students a good understanding of the objectives and
characteristics of taxation. It discusses the development of UK taxation system and
considers the social and economic factors which affect taxation policy
It also outlines the rules and principals involved in the UK taxation system enabling
students to prepare personal tax computations, corporation tax computations and basic CGT computations. It also aims to give students an understanding of other taxes such as VAT, inheritance tax and capital gains tax, together with the ethics underpinning taxation and the basic administration thereof. The course will provide opportunity to consider the current debate surrounding the morality of taxation and corporate and social responsibility matters.
Teaching and learning methods
This course unit will include:
• Synchronous lectures and workshops.
• Asynchronous (pre-recorded video) lectures where appropriate.
• Quick quizzes
• Peer support board/Discussion board
• Directed independent study.
The lectures and workshops are not intended to cover all the material required for the assessment and students will need to complement the lecture material with their own self-study using a variety of resources, mainly an academic textbook, websites, videos, and quizzes.
Real world, topical examples will be referred to and discussed throughout the course. Students will be expected to keep informed of tax stories and make links with the syllabus.
There are 2 hours of lectures per week, over a 11-week period. A reading week will take place in semester 1.
Lectures will cover the course material. Lectures are used to introduce context, concepts, fundamental rules, computations, and debate, and it expected that students attend all lectures whether they are online or in the classroom. Student participation will be expected in lectures, including responding to polls, asking, and answering questions, contributing to discussions, and doing independent work. References to what to expect in the exam, including exam technique, will be included in lectures.
There is a one-hour workshop per week, over a 11-week period. A reading week will take place in semester 1.
Workshops are designed to build on the knowledge introduced in the lectures, developing the skills to apply tax knowledge to exam-standard questions. Students will be expected to prepare for workshops, by completing questions set by the lecturer prior to attending. The workshop will be a mix of checking understanding of pre-set work, and attempting previously unseen questions, as well as being a space to ask questions. Again, like the lectures, exam approach and technique will a vital part of the workshops.
Students should note that the final examination will include some discussion topics, and these can be drawn from discussions in the lectures and workshops.
As this course is a 10-credit course the student should expect to allocate 100 hours of study time. Timetabled activities, including the weekly 2-hour lecture and 1-hour workshop, will total 33 hours (11 x 3 hours). The remaining 67 hours will be split between course familiarisation, self-study including quick quizzes and further question practice, group poster presentation preparation and delivery, revision activities, and exam preparation. Further details on weekly study expectations will be included on Blackboard.
There will be an unseen 2.5 hour written exam at the end of the semester. This contributes 70% to the course mark. Students will be required to answer all questions. These will be a mix of multiple choice questions (40% of the exam) and scenario based numerical and essay based questions (60% of the exam).
The other (30%) of the course mark will be a group project (or 1,500-word essay equivalent) which will require presentation as a poster to be submitted via Blackboard.
Feedback during the course will be given in several ways to allows students to judge their progression. The methods will include but are not limited to the following:
• Face to face feedback during lectures and workshops as students undertake short illustrative questions.
• During workshop sessions, informal verbal feedback on the work which has been prepared by students.
• The opportunity for students to ask the lecturer questions directly during lectures and workshops.
• Using, and engagement in the peer support board/discussion board.
• Using on-going online quizzes to obtain independent feedback on their strength of knowledge and understanding of the different taxes.
• Students can come and see the lecturer in office hours and receive verbal feedback on the work which they have attempted.
Feedback on Coursework
Feedback for all assessed coursework and formative assessment is normally available within 15 working days of the submission deadline. A working day is defined as Monday to Friday, not including bank holidays and excluding student vacation periods and University examination periods.
Feedback on Exams
The Course Coordinator will post generic feedback on the course’s Blackboard page. Generic feedback is normally a comment on overall class performance and should generally address how each question was answered – what students did well, what could be improved, where there were weaknesses. The general principle is that students should receive feedback on exams to tie in with the publication of marks. Feedback is normally available within 15 working days of the publication date.
Students should not expect to find detailed written comments on an exam script as you would for coursework. Any comments on the exam script are predominantly part of the marking process and are not extensive in the way that individual feedback is given for coursework.
The recommended textbook for this course is ‘Taxation Policy and Practice’ by Lymer and
Oats. Please see Blackboard for the relevant edition and how to access. It is a requirement to have access to the textbook as the workshop exercises will be taken directly from the latest edition. Note that using the correct edition is imperative due to annual changes in tax law.
Any specific supplementary readings will be indicated on Blackboard
|Scheduled activity hours|
|Independent study hours|
|Alison Zimmer||Unit coordinator|
Length of course: 11 teaching weeks.
Pre-requisite course units must be passed by 40% or above at the first attempt. Pre-requisites: BMAN10501
Dependent courses: BMAN24632 (for BSc Business Accounting students only)
Programme Restrictions: Compulsory for and available only to students on the BSc Accounting programme and BSc Business Accounting programme.
For Academic Year 2022/23
Updated: March 2022
Approved by: March UG Committee