Advanced Taxation – United Kingdom

Course Objectives

1. To advance the understanding of the UK tax system through the study of complex
topics in income tax, capital gains tax, inheritance tax, corporation tax, stamp taxes,
and VAT.
2. To assess the impact of relevant taxes on various business and personal situations and
provide tax-efficient recommendations.
3. To develop strategies to minimize and defer tax liabilities using standard tax planning
measures and evaluate their appropriateness.
4. To enhance communication skills for providing tax advice and recommendations to
clients, HM Revenue and Customs, and other professionals.

Course Outcomes

1. Students will be able to apply advanced knowledge of the UK tax system to calculate
income tax, capital gains tax, inheritance tax, corporation tax, stamp taxes, and VAT
liabilities, and use exemptions and reliefs to minimize these liabilities.
2. Students will be capable of evaluating the impact of different taxes on various
situations and courses of action, providing tax-efficient strategies, and understanding
the implications of tax-related decisions for businesses and individuals.
3. Students will be proficient in implementing standard tax planning measures to
minimize and defer tax liabilities, assessing their appropriateness for specific taxpayer
circumstances, and addressing ethical and professional issues in tax planning.
4. Students will be adept at communicating tax advice, recommendations, and
information effectively to clients, HM Revenue and Customs, and other professionals,
using appropriate language, supporting computations, and addressing any
inadequacies or additional information requirements.

Unit 1
Apply further knowledge and understanding of the UK tax system through the study of
more advanced topics within the taxes studied previously and the study of stamp taxes
Income and income tax liabilities in situations involving further overseas aspects and in
relation to trusts, and the application of exemptions and reliefs- The contents of the Taxation
United Kingdom, The scope of income tax, Income from employment, Income from self-
employment, Property and investment income, The comprehensive computation of taxable
income and the income tax liability, The use of exemptions and reliefs in deferring and
minimising income tax liabilities, Chargeable gains and capital gains tax liabilities in
situations involving further overseas aspects and in relation to closely related persons and
trusts together with the application of additional exemptions and reliefs- The contents of the
Taxation United Kingdom, The scope of the taxation of capital gains, Capital gains tax and
trusts, The basic principles of computing gains and losses, Gains and losses on the disposal of
movable and immovable property, Gains and losses on the disposal of shares and securities,
The use of exemptions and reliefs in deferring and minimising tax liabilities, Inheritance tax
in situations involving further aspects of the scope of the tax and the calculation of the
liabilities arising, the principles of valuation and the reliefs available, transfers of property to
and from trusts, overseas aspects and further aspects of administration- The contents of the
Taxation United Kingdom, The scope of inheritance tax, The basic principles of computing
transfers of value, The liabilities arising on chargeable lifetime transfers, The liabilities
arising in respect of transfers, The use of exemptions and reliefs in deferring and minimising
inheritance tax liabilities, The system by which inheritance tax is administered, Corporation
tax liabilities in situations involving further overseas and group aspects and in relation to
special types of company, and the application of additional exemptions and reliefs- The
contents of the Taxation United Kingdom, The scope of corporation tax, Taxable total profits,
The comprehensive calculation of the corporation tax liability, The effect of a group structure
for corporation tax purposes, The use of exemptions and reliefs, Stamp taxes- The scope of
stamp taxes, the liabilities arising on transfers, The use of exemptions and reliefs in deferring
and minimising stamp taxes, Value added tax, tax administration and the UK tax system- The
contents of the Taxation United Kingdom for VAT, The contents of the Taxation - United
Kingdom for tax system.

Unit 2
The impact of relevant taxes on various situations and courses of action, including the
interaction of taxes
The taxes applicable to a given course of action and their impact, The alternative ways of
achieving personal or business outcomes may lead to different tax consequences- the receipts
from a transaction, net of tax, Advise how taxation can affect the financial decisions made by
businesses- the tax treatment of the sources of finance and investment products, the tax
implications of the raising of equity and loan finance, the tax differences between decisions to
lease, the impact of taxation on the cash flows of a business, the tax advantages and
disadvantages of alternative courses of action, the statutory obligations imposed in a given
situation, including any time limits for action and advise on the implications of non-
compliance.
Unit 3
Minimise and/or defer tax liabilities by the use of standard tax planning measures
The types of investment and other expenditure that will result in a reduction in tax liabilities
for an individual and/or a business, tax planning measures, by which the tax liabilities arising
from a particular situation or course of action can be mitigated, the appropriateness of such
investment, expenditure or measures given a particular taxpayer’s circumstances or stated
objectives, the mitigation of tax in the manner recommended by reference to numerical
analysis and/or reasoned argument, the ethical and professional issues arising from the giving
of tax planning advice, current issues in taxation.
Unit 4
Communicate with clients, HM Revenue and Customs and other professionals in an
appropriate manner
Communicate advice, recommendations and information, written information, in language
appropriate to the purpose of the communication, communicate conclusions reached,
together, where necessary with relevant supporting computations, inadequacies in the
information available and/or additional information required to provide a fuller analysis, non-
tax, factors that should be considered.