Module Database Search
| MODULE DESCRIPTOR | |||
|---|---|---|---|
| Module Title | |||
| Personal and Business Taxation | |||
| Reference | BS4113 | Version | 12 |
| Created | December 2023 | SCQF Level | SCQF 10 |
| Approved | July 2019 | SCQF Points | 15 |
| Amended | March 2024 | ECTS Points | 7.5 |
| Aims of Module | |||
|---|---|---|---|
| To develop students' understanding of the principles, together with the rules of computation and compliance, with a view to evaluating these for decision making in relation to personal and business taxation. To develop students' understanding of the principles and scope of Value Added Tax. | |||
| Learning Outcomes for Module | |
|---|---|
| On completion of this module, students are expected to be able to: | |
| 1 | Evaluate the main principles of income tax and VAT. |
| 2 | Undertake detailed income tax computations. |
| 3 | Synthesise their knowledge to minimise and defer tax liabilities for individuals and unincorporated business. |
| Indicative Module Content |
|---|
| Introduction to the tax system; administration; self assessment; duties and powers; professional behaviour of a tax accountant. Taxable persons; exempt income; allowances; computation of taxable income and income tax liability; payments and gifts eligible for relief; income from savings and investments; property income; pensions; national insurance; income from employment; income from self employment; nature and scope of trading; basis periods; capital allowances; trading losses; partnerships. Principles and scope of VAT; taxable persons; taxable, exempt and zero rated supplies; registration and deregistration; accounting for VAT; VAT Schemes; administration. |
| Module Delivery |
|---|
| Topics are introduced in lectures and developed in tutorials for which students are expected to undertake directed independent learning. |
| Indicative Student Workload | Full Time | Part Time |
|---|---|---|
| Contact Hours | 44 | N/A |
| Non-Contact Hours | 106 | N/A |
| Placement/Work-Based Learning Experience [Notional] Hours | N/A | N/A |
| TOTAL | 150 | N/A |
| Actual Placement hours for professional, statutory or regulatory body |
| ASSESSMENT PLAN | |||||
|---|---|---|---|---|---|
| If a major/minor model is used and box is ticked, % weightings below are indicative only. | |||||
| Component 1 | |||||
| Type: | Examination | Weighting: | 100% | Outcomes Assessed: | 1, 2, 3 |
| Description: | Closed book examination | ||||
| MODULE PERFORMANCE DESCRIPTOR | |
|---|---|
| Explanatory Text | |
| Component 1 comprises 100% of the module grade. To pass the module, a D grade is required. | |
| Module Grade | Minimum Requirements to achieve Module Grade: |
| A | A |
| B | B |
| C | C |
| D | D |
| E | E |
| F | F |
| NS | Non-submission of work by published deadline or non-attendance for examination |
| Module Requirements | |
|---|---|
| Prerequisites for Module | None. |
| Corequisites for module | None. |
| Precluded Modules | None. |
| INDICATIVE BIBLIOGRAPHY | |
|---|---|
| 1 | MELVILLE, A., 2024. Taxation: Finance Acts 2023. 29th ed. Harlow: Pearson Education. |