ACC40250 Taxation 2

Academic Year 2020/2021

This module seeks to provide participants with a detailed understanding of the basic principles and practical application of the Irish taxation system with regard to income tax and corporation tax.

This module aims to provide participants with:
(i) A sound understanding of the Income Tax system self-assessment rules.
(ii) A sound understanding of the types of income and basic computational rules applicable to routine personal income tax computations incorporating individuals with business income, employment income and investment income.
(iii) An appreciation of how the capital allowance system provides relief to businesses for investment in plant, equipment and certain types of industrial buildings.
(iv) An understanding of the taxation treatment of Irish tax resident companies under the Irish Corporation Tax system and an ability to prepare routine computations.
(v) A sound knowledge and understanding of the basic principles of Corporation Tax loss relief, the taxation treatment of privately controlled close companies and the management of corporation tax for groups.

This module will also incorporate case study based workshops, on an integrated basis to include the taxes on both modules of the course.


Students must attempt all the assessment components of a module.

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Curricular information is subject to change

Learning Outcomes:

By the end of this course, students should be able to: (i) Explain the operation of the self-assessment system as applied to each of the taxes covered in this module.
(ii) Prepare routine tax computations for each of the taxes covered in this module, in order to establish the tax liabilities of the relevant parties under these tax headings.
(iii) Apply the major tax reliefs available under each taxes covered in this module.
(iv) Offer appropriate practical proffessional tax advice to clients by way of letters or reports.
(v) Identify appropriate professional ethical issues.

Indicative Module Content:

This module seeks to provide participants with a detailed understanding of the basic principles and practical application of the Irish taxation system with regard to income tax and corporation tax.

This module aims to provide participants with:
(i) A sound understanding of the Income Tax system self-assessment rules.
(ii) A sound understanding of the types of income and basic computational rules applicable to routine personal income tax computations incorporating individuals with business income, employment income and investment income.
(iii) An appreciation of how the capital allowance system provides relief to businesses for investment in plant, equipment and certain types of industrial buildings.
(iv) An understanding of the taxation treatment of Irish tax resident companies under the Irish Corporation Tax system and an ability to prepare routine computations.
(v) A sound knowledge and understanding of the basic principles of Corporation Tax loss relief, the taxation treatment of privately controlled close companies and the management of corporation tax for groups.

This module will also incorporate case study based workshops, on an integrated basis to include the taxes on both modules of the course.


Students must attempt all the assessment components of a module.

Student Effort Type Hours
Lectures

42

Specified Learning Activities

10

Autonomous Student Learning

98

Total

150

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: 20% Essay Varies over the Trimester n/a Alternative non-linear conversion grade scale 50% No

20

Examination: Final end of semester exam (3 hour paper) 3 hour End of Trimester Exam No Alternative non-linear conversion grade scale 50% No

80


Carry forward of passed components
No
 
Resit In Terminal Exam
Summer Yes - 3 Hour
Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Spring
     
Lecture Offering 1 Week(s) - 27, 28, 29, 30, 31, 32 Thurs 11:00 - 12:50
Lecture Offering 1 Week(s) - 27, 28, 29, 30, 31, 32 Wed 09:00 - 10:50
Lecture Offering 1 Week(s) - 29, 30, 31, 32 Wed 14:30 - 16:20
Spring
     

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