Introduction to Tax and Information Systems

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ANF206
Code
Term 1
Term
20
Credits
08
SCQF Level
2024/5
Year
Design, Informatics and Business
Faculty

Description

This module introduces students to Tax and forms the first of 2 modules covering this accredited subject. In addition, it provides hands-on use of a standard accounting software package. The module promotes the development of Abertay Attributes, particularly their intellectual and personal development while encouraging them to reflect on good citizenship.

Aims

The aim of this Module is to provide the student: with the ability to make the relevant calculations relating to income and national insurance and use of a standard, off-the-shelf accounting/information software package.

Learning Outcomes

By the end of this module the student should be able to:

  1. Demonstrate an understanding of the structure and administration of the UK tax system.
  2. Calculate the Income Tax due on the income of an employed individual with other sources of income;
  3. Demonstrate an understanding and calculate the basis periods for trading income of self-employed businesses and partnerships;
  4. Compute an employer's liability for National Insurance in respect of the employee and employer.
  5. Demonstrate the ability to use an accounting package to process a range of transactions, maintain accounting records and generate reports.

Indicative Content

1 Introduction to taxation:

General introduction to UK tax system; Administration of tax system; Tax evasion; Tax avoidance; HMRC Charter; Introduction to Income tax.

2 Taxation of the individual:

Sources of income; Basis of assessment and allowable expenditure; Capital expenditure; Personal allowances and reliefs;; Employee's liability for National Insurance contributions.

3 Income from employment:

Basis of assessment; Employment income; Non-taxable employment income; Deductible expenses;

4 Income from self-employment:

The calculation of trading profits; Disallowed and allowable expenditure; Trading income allowance ; Basis periods for trading income; Commencement of trade; Cessation of trade; Change of accounting date; Capital allowances; Trading losses and relief; partnerships.

5 Introduction to a standard, accounting software package

Providing individual, hands-on use of the package to gain a meaningful and practical understanding of the package features and functionality.

6 Use of a software package

Process transactions, maintain ledgers and generate reports.

Teaching and Learning MethodHours
Lecture12
Tutorial/Seminar12
Supervised Practical Activity12
Unsupervised Practical Activity0
Assessment60
Independent104

Guidance Notes

SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.

Disclaimer

We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2024/5, and may be subject to change for future years.