Run by Bangor Business School
20.000 Credits or 10.000 ECTS Credits
Semester 1 & 2
Organiser: Dr Helen Rogers
Overall aims and purpose
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 tax, corporate tax, capital gains tax, inheritance tax and value added tax is covered.
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.
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.
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.
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.
Demonstrate an understanding of the rationale for the various tax systems used in modern economies.
Critically evaluate the role of taxation in achieving desired policy outcomes.
Calculate personal income, corporate, capital gains, inheritance and value added tax liabilities.
Calculate tax reliefs available to individuals and corporate bodies.
|EXAM||Exam S2 2hrs||55.00|
|EXAM||Exam S1 2hrs||45.00|
Teaching and Learning Strategy
- 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.
Resource implications for students
The suggested study text should either be purchased or borrowed from the University library.
Talis Reading listhttp://readinglists.bangor.ac.uk/modules/asb-3212.html
Taxation: Policy and Practice by Andy Lymer and Lynne Oats for tax year 2022/23
Pre- and Co-requisite Modules
Courses including this module
Compulsory in courses:
- NR43: BA Accounting/Italian year 4 (BA/AIT)
- NR44: BA Accounting/Spanish year 4 (BA/ASP)
- NR41: BA French/Accounting year 4 (BA/FRA)
- NR42: BA German/Accounting year 4 (BA/GA)
- NN44: BSc Accounting and Banking with International Experience year 4 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 3 (BSC/ACCB)
- NN46: BSc Accounting and Banking (4 year with Incorp Found) year 3 (BSC/ACCB1)
- NN3F: BSc Accounting and Banking year 3 (BSC/ACCBF)
- NN3P: BSc Acc & Banking with Place Yr year 4 (BSC/ACCBP)
- NL41: BSc Accounting and Economics year 3 (BSC/ACCEC)
- NL4B: BSc Accounting and Economics (4 year with Incorp Foundation) year 3 (BSC/ACCEC1)
- NL4F: BSc Accounting and Economics year 3 (BSC/ACCECF)
- NL4P: BSc Accounting and Economics with Placement Year year 4 (BSC/ACCECP)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 3 (BSC/ACCF1)
- NN4H: BSc Accounting and Finance year 3 (BSC/ACCFIN)
- NN4F: BSc Accounting and Finance year 3 (BSC/ACCFINF)
- N402: BSc Accounting & Finance (with International Experience) year 4 (BSC/ACCFINIE)
- NN4P: BSc Accounting and Finance with Placement Year year 4 (BSC/ACCFINP)
- NL42: BSc Accounting and Economics with International Experience year 4 (BSC/AEIE)
- N406: BSc Accounting and Finance (Bangor International College) year 3 (BSC/BICAF)
- N203: BSc Business Man with Acc (Bangor Uni International College) year 3 (BSC/BICBMA)
- NN24: BSc Management with Account (Bangor International College) year 3 (BSC/BICMNA)
- N2ND: BSc Business Management with Accounting year 3 (BSC/BMA)
- N2NF: BSc Business Man with Account (4 yr with Incorp Foundation) year 3 (BSC/BMA1)
- N3NF: BSc Business Management with Accounting year 3 (BSC/BMAF)
- N2NP: BSc Business Management with Accounting with Placement Year year 4 (BSC/BMAP)
- N2NK: BSc Management with Accounting year 3 (BSC/MWACC)
- N2NL: BSc Management with Accounting (4 year with Incorp Found) year 3 (BSC/MWACC1)
- M1N4: LLB Law with Acc and Finance year 3 (LLB/LAF)
- M1NB: LLB Law with Accounting & Finance (4yr with Incorp Found) year 3 (LLB/LAF1)
- M103: LLB Law with Accounting & Finance (Intl Exp) year 4 (LLB/LIA)
Optional in courses:
- N107: BA Business year 3 (BA/BUS)