AC307-Business Planning: Tax

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Autumn / Summer term module
Pre-requisites: AC108 Principles of Taxation and AC217 Tax Compliance
Non-modular pre-requisites:
Co-requisites:
Modules excluded: AC221 Personal Tax or AC319 Business Tax
Current from: 2023/4

Module Convenor: Mrs Clare Bentata
Email: clare.bentata@henley.ac.uk

Type of module:

Summary module description:

This module builds on the knowledge acquired in AC217/AC304 Tax Compliance, developing knowledge, understanding and advisory skills relating to potential business and personal tax scenarios.

Aims:

This module aims to enable students to apply technical knowledge and professional judgement to identify, explain and evaluate alternative tax treatments to resolve tax issues that arise in the context of preparing tax computations and to advise on tax-efficient strategies for businesses and individuals. Students will also be required to evaluate the commercial, legal and ethical implications of recommendations.

Assessable learning outcomes:

1. Analyse, evaluate and calculate the tax consequences of actions for individuals and companies and evaluate the interaction of taxes in given scenarios by reference to the tax regulations.

2. Advise on alternative tax treatments to defer or minimise tax liabilities.

3. Understand the interaction of taxes in given scenarios and to identify and discriminate between tax evasion and tax avoidance.

4. Recognise and explain ethical and legal issues arising in taxation scenarios.

 

Additional outcomes:

The module also aims to encourage the development of oral communication skills and the students’ effectiveness in group situations. Structured activities are designed to develop independent learning, including reflective, adaptive and collaborative learning.

Outline content:

• Tax liabilities for individuals and companies in a range of scenarios

• International aspects of corporate tax

• Tax implications of financing and investing in companies

• Tax implications of employment income and remuneration packages

• Personal tax

• Overseas tax

• Tax planning to defer or minimise tax liabilities

• Interaction of taxes in tax planning scenarios

• Ethical and legal implications in tax scenarios

 

Global context:

The module covers international aspects of income tax, capital gains tax, corporation tax and VAT.

Brief description of teaching and learning methods:

Lectures and workshops will be combined and used for both the exposition of the main concepts, principles and techniques associated with the discipline and for numerical practice and discussion of examination style questions.

 

Contact hours:

	Autumn	Spring	Summer
Lectures	30
Tutorials			12
Guided independent study:
Wider reading (directed)	26
Exam revision/preparation			53
Completion of formative assessment tasks	54
Reflection	25
Total hours by term	135	0	65
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	100

Summative assessment- Examinations:

The exam will be an unseen exam in the Summer term and will be two and a half hours long. This is an open book exam, where students are allowed to bring hard copy materials with them into the examination.

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

 

Summative assessment- Coursework and in-class tests:

None

Formative assessment methods:

Formative assessments are available in the textbook for all weeks of the module to enable students to gain the necessary practice. This work is primarily designed as a learning vehicle, and students will be provided with marking guides and feedback where appropriate so that they can assess their own performance.

Penalties for late submission:

The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

Requirement for a University pass is a minimum mark of 40%.

This module contributes to the Business Planning: Taxation module of the ACA Professional Stage. In order to apply for ICAEW credit for prior learning, students must be registered on the BA Accounting and Business programme and must obtain a minimum mark of 55% in this module.

 

Reassessment arrangements:

Reassessment is by examination only in August / September of the same year.

Additional Costs (specified where applicable):

Required text book - ICAEW Business Planning:Taxation Workbook and Question Bank, available through ICAEW: Cost approximately £58. 

Hardman's Tax Tables. Cost approximately £57 plus VAT  

Calculator - Any non-programmable, approximately £15

Last updated: 30 March 2023