Module ASB-3212:
Taxation

Module Facts

Run by Bangor Business School

20 Credits or 10 ECTS Credits

Semester 1 & 2

Organiser: Dr Helen Rogers

Overall aims and purpose

NOTE: If you register for this module, you cannot also register for ASB-3112 Advertising Strategy or ASB-3114 E-Marketing.

AIMS: To provide an overview of the place of taxation in a market economy. Issues such as the incentive to work and save, equity and economic efficiency are covered, in the context of personal, corporate and capital taxes. Policy implications of taxation are reviewed. In addition, the computation of personal income, corporate, capital gains and value added tax is covered.

Course content

The place of taxation in the economy; the balance between equity and efficiency; income tax and incentives to work and save; the role of capital taxation; the bases of taxation and investment incentives; reform of the tax system; and tax as a policy tool. It will also include the calculation of personal, corporate, capital gains, inheritance and value added tax liabilities with some tax planning.

Assessment Criteria

threshold

D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

good

B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

excellent

A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

C- to C+

C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning outcomes

  1. Understand the rationale for the various tax systems used in modern economies.

  2. Understand the role of taxation in achieving desired policy outcomes.

  3. Calculate personal income, corporate, capital gains, inheritance and value added tax liabilities.

  4. Be aware of and be able to calculate tax reliefs available to individuals and corporate bodies.

Assessment Methods

Type Name Description Weight
EXAM Exam S1 2hrs

End of semester exam based on computational and narrative work.

45
EXAM Exam S2 2hrs

End of semester exam based on computational and narrative work

55

Teaching and Learning Strategy

Hours
Private study

including reading, preparing for lectures and computation practice.

157
Lecture

one 2-hour lecture per week.

40
Workshop

discussing in more detail some of the points from the lectures.

3

Transferable skills

  • Literacy - Proficiency in reading and writing through a variety of media
  • Numeracy - Proficiency in using numbers at appropriate levels of accuracy
  • Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
  • Exploring - Able to investigate, research and consider alternatives
  • Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
  • Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting

Subject specific skills

  • knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)
  • knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain
  • knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)
  • skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business (for example, decision analysis, performance measurement and management control); financial analysis and projections (for example, analysis of financial ratios, discounted cash flow analysis, budgeting, financial risks)
  • Problem solving and critical analysis: analysing facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions.
  • Numeracy: the use of quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena.
  • Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.

Resources

Resource implications for students

The suggested study text should either be purchased or borrowed from the University library.

Talis Reading list

http://readinglists.bangor.ac.uk/modules/asb-3212.html

Reading list

Taxation: Policy and Practice 2019/20 by Andy Lymer and Lynne Oats

Pre- and Co-requisite Modules

Pre-requisites:

Courses including this module

Compulsory in courses:

Optional in courses: