AF5034 - Applied Taxation

You will learn through lectures and seminars, supported by tutor-directed study and independent learning. The lectures will use gapped handouts. Each lecture will introduce you to a set of tax rules and techniques using worked examples, which you will then be required to apply in a series of practical exercises undertaken in advance of your seminar. Your tutor will then work through the exercises with you in the seminar session. This will provide you with a means of formative assessment and feedback by enabling you to determine your level of knowledge and understanding of a topic, and ability to apply the rules and techniques you have learnt to practical situations. Solutions to seminar activities will be placed onto the module’s eLearning Portal (eLP) site. The module also has a reading list to support your independent learning, which will provide you with details of key texts that will enable you to consolidate and enhance your knowledge and understanding of the application of tax rules in solving problems. The tax rules covered in the syllabus will be localised where necessary to ensure that they are applicable to the environment in which you study. Use will be made of excel to perform certain tax calculations and HMRC videos will demonstrate the operation of the tax system in an on-line environment.

The module tutor will provide support in relation to the day-to-day operation of the module in the first instance. You will also receive feedback from tutors in seminars, facilitated by the formative assessment activities, during which you will have an opportunity to ask any questions you may have in respect of the subject matter.

The e-learning portal will house the gapped lecture notes and seminar exercises and solutions, and an electronic reading list will provide you with information in respect of the supporting texts.

All modules at Northumbria include a range of reading materials that students are expected to engage with. Online reading lists (provided after enrolment) give you access to your reading material for your modules. The Library works in partnership with your module tutors to ensure you have access to the material that you need.

Knowledge & Understanding:

You will be able to demonstrate a detailed knowledge and understanding of the underlying rules, principles and methods of operation of the UK tax system. (MLO 1)

You will be able to compute the tax liabilities of individuals and companies within the context of income tax, corporation tax, value added tax, capital gains tax, inheritance tax, and national insurance. (MLO 2)

Formative
Feedback will be provided by means of tutor-annotated comments on your script.

You will also be required to undertake exercises in advance of your seminars and will receive class-based feedback from your tutors in respect of these on an on-going basis.

Summative
The assessment will be a single three-hour closed book exam (+15 minutes reading time) at the end of the semester. This will consist of both written and numerical questions in relation to the five taxes covered and the operation of the UK tax system. Tax tables will be provided. (MLO 1, MLO 2)

None

Applied Taxation will give you the skills to effectively compute the tax liabilities of individuals and businesses and explain the basis of your calculations. You’ll also be able to apply tax-planning techniques and identify compliance and ethical issues. As tax is such an important consideration within any business decision-making environment, this module is a great opportunity for enhancing your employment prospects. You’ll finish with a detailed knowledge of five key taxes (income tax, corporation tax, value added tax, capital gains tax and inheritance tax), as well as national insurance, which you’ll be able to apply to the process of solving complex problems within professional practice or industry. The tax rules you’ll study will be tailored to ensure that they are relevant to your local economy.