Principle of Taxation

Course Description

Enabling students to understand the general objectives of taxation and to calculate income tax, national insurance contributions, capital gains tax, corporation tax and VAT in straight-forward scenarios.

Course Outcomes

• Explain the general objectives of taxation, influences upon the UK system of taxation, different types of tax in the UK; recognize the ethical issues arising in the course of performing tax work;
• Identify the obligations the UK system of taxation imposes on taxpayers and the implications of non-compliance;
• Calculate the amount of income tax owed by or owed to individuals and the amount of national insurance payable;
• Calculate the amount of capital gains tax payable by individuals and the chargeable gains subject to corporation tax;
• Calculate the amount of corporation tax payable by companies; and
• Calculate the amount of VAT owed by or owed to businesses.

Evaluation/ Assessment

Final exam: 100% (Multi-part long-form questions, multiple choices, multi-parts multiple choices, multiple responses or numeric entry questions).