BSc Business Accounting with Industrial/Professional Experience

Year of entry: 2024

Course unit details:
Tax Compliance

Course unit fact file
Unit code BMAN24740
Credit rating 10
Unit level Level 2
Teaching period(s) Full year
Available as a free choice unit? No

Overview

Pre/co-requisites

Unit title Unit code Requirement type Description
Principles of Taxation BMAN24111 Pre-Requisite Compulsory
Compulsory for and available only to students on the BSc Business Accounting.

Aims

The course aims to enable students to prepare tax computations for individuals and companies and give tax advice in straightforward scenarios. 

Syllabus

The key areas of the syllabus are:
1.    Ethics and law in relation to UK tax
Students will be able to recognise ethical issues that could arise when accountants perform tax work. The students will learn the obligations the UK tax system imposes on taxpayers and the implications of non-compliance to tax legislation by taxpayers. For all of the taxes covered students will gain an understanding of the wider economic and social impact of any proposed changes in the tax legislation. 


2.    Indirect taxes
Students will be able to calculate the amount of VAT owed by or owed to businesses and calculate the amount of stamp taxes due in straightforward transactions.


3.    Capital taxes
Students will be able to calculate the capital gains tax payable by individuals and trustees and advise on the effect of reliefs in given scenarios. Students will also be able to explain the principles of inheritance tax, calculate the amounts of inheritance tax due on lifetime transfers and transfers on death by individuals, personal representatives and trustees. The students will be able to describe the circumstances in which inheritance tax reliefs are applicable.


4.    Corporation tax
Students will be able to calculate the corporation tax liabilities of companies, demonstrating the relevance of the distinction between revenue and capital for both receipts and expenses, recognising the interaction between tax and accounting profits and applying tax legislation to capital assets. Students will recognise the effect on the corporation payable in group companies, including how losses can be utilised in a group.


5.    Income tax and NIC
Students will be able to calculate the amounts of income tax owed by or owed to individuals and trustees as well as the amounts of national insurance payable by employers, the self-employed and employees. Students will be able to calculate the national insurance payable on employment income and trading income.

Teaching and learning methods

The course will be an intense course taught over a seven-week period. The course will adopt a blended learning approach. Students will have 100 hours of activity hours based on a mix of delivery styles to accommodate the timing of the placement period for students on the BSc (Hons) Business Accounting programme. The learning and teaching will include:
-    Classroom based face-to-face lectures and workshops
-    Online face-to-face lectures (asynchronous) for discrete, standalone topics. 
-    E-learning materials in the form of short form quizzes, longer online question and answers, and discussion forums.
-    In preparation for the assessment the students will be given mock exam questions and guidance on the approach to be taken to the questions and exam technique
-    Directed independent study.

The lectures will focus on the core topics of the course and the more complex, integrated topics. Running alongside this will be a series of asynchronous videos giving a lecture on more periphery aspects of the topic covered in the classroom lecture or a standalone topic. These asynchronous videos are aimed at teaching the student the topic and embellishing the learning they have gained in their private study. Topics covered in the asynchronous videos will also be covered in the workshop to give the students the opportunity to have areas of misunderstanding or misinterpretation clarified.
 

Knowledge and understanding

Students will gain detailed technical knowledge in relation to the following areas of UK taxation: Indirect Taxes; Capital Taxes; Corporation Taxes; Income and NIC; Taxation on an unincorporated business. Students will also gain an understanding of ethics and law in relation to UK tax.

Intellectual skills

Students will apply their technical knowledge to case scenarios, identifying and using relevant information, to develop solutions and applying judgement in relation to the case, leading to a credible conclusion.

Practical skills

Students will apply technical knowledge to support reasoning and conclusions. They will prepare tax computations, give advice, prepare reports or notes required in a clear and concise way in accordance with the instructions given.
 

Transferable skills and personal qualities

The course support the student’s development as lateral thinkers. They will be required to analyse courses of actions in terms of the requirements of the scenario, tax legislation, case law and accounting ethics. The delivery schedule and assessment method for the course demonstrates the student’s ability of time management, self-discipline and motivation.

Employability skills

Problem solving
The mode of delivery of this course allows the students to develop self-study and time management skills. Much of the workshop time will be devoted to understanding the fundamental principles of a tax and establishing the skills required by employers e.g., communication, numerical interpretation, organisation and planning, problem solving and initiative.
Other
This module has been specifically designed with the aim to enhance students’ exposure to professional practice and broaden their knowledge of UK tax. Many aspects of the course are tailored specifically to support students’ ability to apply for a job within the specialist field of taxation.

Assessment methods

Summative assessment – unseen in-class test (100%). The length of the final in-class test aligns with the ICAEW professional exemption requirements. 

Formative assessment – for each area of the syllabus the students will  complete a series of online quizzes and mock in-class test, as part of their independent study, prior to the summative assessment.

Feedback methods

Following the assessment generic feedback posted on Blackboard regarding overall test performance

Formative feedback will be given by:
•    Informal advice and discussion during a lecture and workshop.
•    Online exercises and graded quizzes delivered through the Blackboard course space.
•    Responses to student emails and questions from a member of staff including feedback provided to a group via an online discussion forum.
 

Recommended reading

ICAEW Learning Resources for Tax Compliance Professional level

(Note: these texts will be updated annually to reflect the current Finance Act) 

Study hours

Scheduled activity hours
Practical classes & workshops 21.5
Independent study hours
Independent study 78.5

Teaching staff

Staff member Role
Claire Levison Unit coordinator

Additional notes

For academic purposes the students will need to attain a pass mark of 40%. 
To meet the conditions for  ICAEW professional level accreditation for ‘Tax Compliance’ a pass mark of 55% is required. A mark of 55% is also required  in order to continue with the BSc Business Accounting Programme.
 

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