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ACCT1121: Principles of Taxation

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Type	Tied
Level	1
Credits	20
Availability	Available in 2023/24
Module Cap	None.
Location	Durham
Department	Accounting

Prerequisites

None

Corequisites

None

Excluded Combinations of Modules

None

Aims

To enable students to understand the general objectives of tax and to calculate income tax, national insurance contributions, capital gains tax, corporation tax, and VAT in basic scenarios.
To enable students to prepare tax computations and provide tax advice to individuals and companies in basic scenarios.

Content

Objectives and types of tax
Ethics, law and administration
Income tax and national insurance contributions
Capital gains tax
Corporation tax
VAT

Learning Outcomes

Subject-specific Knowledge:

On completion of this module students should:
Have an understanding of the general objectives of tax, the influences upon the UK system of tax and the different types of tax in the UK;
Have an appreciation of the ethical issues arising in the course of performing tax work and be able to identify the obligations the UK system of tax imposes on taxpayers and the implications for taxpayers of non-compliance;
Be familiar with capital gains tax, income tax, national insurance, corporation tax and VAT.

Subject-specific Skills:

On completion of this module students should:
Be able to calculate the amounts of income tax owed by or owed to individuals
Be able to calculate the capital gains tax payable by individuals
Be able to calculate the corporation tax liabilities of companies
Be able to calculate the amount of VAT owed by or owed to businesses
Be able to calculate the amount of national insurance payable by individuals and businesses
Be aware of ethical tax practice

Key Skills:

Skills in data handling and synthesis
Problem solving, organisation and time management
Presenting information effectively
Verbal and written communication

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

Learning will be based on knowledge transfer from blended learning materials, workshops and independent study; workshop activities and discussions will provide technical awareness of topics in a comprehensive form.
Formative assessment will provide feedback to students regarding their ability to practice taxation in different scenarios and contexts.
The summative timed invigilated exam addresses students understanding of the main tax concepts and technical treatments.

Teaching Methods and Learning Hours

Activity	Number	Frequency	Duration	Total	Monitored
Workshops	20	2 per week	2 hours	40	Yes
Revision webinar	1	Once	2 hours	2
Preparation, Reading and Independent Study				158
Total				200

Summative Assessment

Component: Examination		Component Weighting: 100%
Element	Length / Duration	Element Weighting	Resit Opportunity
In-person Written Examination	2 hours	100	same

Formative Assessment

Practice test

More information

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