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Taxation

Course leaders: Abbas Sadak
One term (15 or 30 units)

This course is completely new, having been completely revised and updated this year. It is available in two streams, each of 15 units (see below for details). The combined 30-unit course is designed to comply with ACCA's requirements and syllabus for their Foundation level taxation paper (F6).

This course is a final year course for Accounting undergraduates. Other undergraduate students may also select it as an option. The full 30-unit course combines two streams as follows:

• Stream 1 covers income taxes for individuals and unincorporated businesses.
• Stream 2 covers Corporation Tax, Capital Gains Tax and Value Added Tax.

Accounting undergraduates should take both streams. Other undergraduate students may select either stream or, if they have sufficient capacity in their programmes, may select the combined course.

We are fortunate that we have an experienced professional tax practitioner to teach the course. Abbas Sadak is a senior transfer pricing and international tax consultant with True Partners Consulting (UK) LLP, a specialist taxation and business advisory firm. He has facilitated a number of courses whilst at RSM Robson Rhodes LLP (now merged with Grant Thornton LLP) and Deloitte LLP.

On successful completion of the course, students should be able to:

Stream 1

• understand in principle the different types of taxation applicable to individuals and unincorporated businesses.
• discuss and apply the main UK regulations that govern personal and business taxation
• compute the basic UK taxation liabilities in the above taxes under different circumstances
• evaluate the strengths and weaknesses of the different types of taxation
• draw conclusions as to the efficiency and fairness of the individual taxes applied

Stream 2

• understand in principle the different types of taxation available to governments.
• discuss and apply the main UK regulations that govern:
  • Corporate Taxation
  • Capital Gains Tax
  • Value Added Tax
• compute the basic UK taxation liabilities in the above taxes under different circumstances.
• evaluate the strengths and weaknesses of the different types of taxation.
• draw conclusions as to the efficiency and fairness of the individual taxes applied.

Assessment

Each stream will be assessed by a separate 3 hour written examination.

Main texts:

• Homer, A. Tolleys Tax Guide 2007-8 (London: Lexis Nexis Tolley, 2008)
• Melville, A. Taxation: Finance Act 2007 (13th ed., London: Financial Times Prentice Hall, 2007). ISBN: 978-0-273-71232-9.

Secondary texts:

• Kay, J.A . The British tax system (5th ed., Oxford: Oxford University Press, 1990). ISBN: 0-19-828313-X.
• James, S. & C. Nobes, The economics of taxation (7th ed., London: Financial Times Prentice Hall, 2002). ISBN: 0-273-64630-3.

Before purchasing any key texts, we recommend that you check for the latest edition with the Business School.