AF5005 - Applied Taxation

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What will I learn on this module?

The module will introduce you to the subject of taxation. You will learn about the underlying principles and technical areas of taxation as they affect individuals and businesses.

You will study five areas of taxation or equivalent

• Income tax

Topics include : the tax computation, adjustment to profit, capital allowances, basis of assessment, employment income, treatment of pension contributions, property income, trading losses, and partnerships

• Corporation tax

Topics include: calculation of the corporation tax liability and the treatment of losses

• Value added tax

Topics include : the scope of VAT, registration and deregistration, the tax point, a VAT invoice, output tax and input tax computational issues, types of supplies and VAT schemes

• Capital gains tax

Topics include: calculation of gains and losses, part disposals, chattels and wasting assets, shares and securities, principal private residence and reliefs

• Inheritance tax

Topics include: chargeable lifetime transfers, exempt transfers and potentially exempt transfers, lifetime tax and tax payable upon death

You will also study National Insurance Contribution liabilities for both the self-employed and employees; compliance matters in respect of each of the five taxes above; tax avoidance v tax evasion; and professional ethics.

How will I learn on this module?

You will learn through lectures and seminars, supported by tutor-directed study and independent learning. The lectures will use gapped handouts. Each lecture will introduce you to a set of tax rules and techniques using worked examples, which you will then be required to apply in a series of practical exercises undertaken in advance of your seminar. Your tutor will then work through the exercises with you in the seminar session. This will provide you with a means of formative assessment and feedback by enabling you to determine your level of knowledge and understanding of a topic, and ability to apply the rules and techniques you have learnt to practical situations. Solutions to seminar activities will be placed onto the module’s eLearning Portal (eLP) site. The module also has a reading list to support your independent learning which will provide you with details of key texts that will enable you to consolidate and enhance your knowledge and understanding of the application of tax rules in solving problems. The tax rules covered in the syllabus will be localised where necessary to ensure that they are applicable to the environment in which you study.

How will I be supported academically on this module?

Support in relation to the day to day operation of the module will be provided by the module tutor in the first instance. You will also receive feedback from tutors in seminars, facilitated by the formative assessment activities, during which you will have an opportunity to ask any questions you may have in respect of the subject matter.

The e-learning portal will house the gapped lecture notes and seminar exercises and solutions, and an electronic reading list will provide you with information in respect of the supporting texts.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at:
(Reading List service online guide for academic staff this containing contact details for the Reading List team –

What will I be expected to achieve?

Knowledge & Understanding:

• You will be able to demonstrate a detailed knowledge and understanding of the underlying rules, principles and methods of operation of the UK tax system (MLO1).

• You will be able to compute the tax liabilities of individuals and companies within the context of income tax, corporation tax, value added tax, capital gains tax, inheritance tax, and national insurance to support appropriate decision making (MLO2).

Intellectual / Professional skills & abilities:

Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):

How will I be assessed?

The assessment will be a single three hour closed book exam at the end of the semester (MLO1 & MLO2). This will consist of both written and numerical questions in relation to the five taxes covered and the operation of the UK tax system. Tax tables will be provided.

Feedback will be provided by means of tutor annotated comments on your script.

You will also be required to undertake exercises in advance of your seminars, and will receive class-based feedback from your tutors in respect of these on an on-going basis.


You should have studied a Level 4 Accounting/Finance module (or equivalent).



Module abstract

‘Applied Taxation’ will enable you to compute the tax liabilities of individuals and businesses and explain the basis of your calculations. You will also be able to apply tax planning techniques and identify compliance and ethical issues. The module will greatly enhance your employment prospects as tax is such an important consideration within any business environment when making decisions. After studying the module you will have a detailed knowledge of five key taxes – income tax, corporation tax, value added tax, capital gains tax and inheritance tax, also national insurance – which you will be able to apply to the process of solving complex problems within a professional or industrial setting. The tax rules that you will study will be tailored to ensure that they are relevant to the local environment.

Course info

UCAS Code N1S4

Credits 20

Level of Study Undergraduate

Mode of Study 3 years full-time or 4 years with a placement (sandwich)/study abroad

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Start September 2020

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