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Fiscal Studies Module

The Fiscal Studies module, coded as BU40006, is a comprehensive program designed to provide students with an in-depth understanding of taxation principles, including Capital Gains Tax, Inheritance Tax, Corporation Tax, and international taxation.

Module Overview

This module is part of the School of Business, specifically within the Accounting and Finance discipline. It is a level 4 module, offered in Semester 2, and carries 15 credits. The program aims to equip students with the knowledge and skills necessary to understand legal obligations, optimize financial planning, make informed decisions, protect assets, and advance professional opportunities in accounting and finance.

What You Will Learn

In this module, students will develop an understanding of:

• The scope and principles of Capital Gains Tax, Inheritance Tax, and Corporation Tax, including relevant reliefs and exemptions.
• The principles of tax planning, tax avoidance, and ethics, as well as the Scottish taxes and aspects of international taxation.

By the end of the module, students will be able to:

• Discuss administration aspects of Capital Gains Tax, Inheritance Tax, and Corporation Tax, utilizing appropriate exemptions and reliefs.
• Compute the Capital Gains Tax liability of a UK resident individual, the Inheritance Tax liability during lifetime and on death of a UK resident individual, and the taxable profits and Corporation Tax liability of a UK resident company.
• Critically discuss current tax issues, including relevant aspects of international taxation, tax planning, tax avoidance, and ethics, along with the devolved and partially devolved Scottish taxes.

Assignments and Assessment

The assessment for this module consists of:

• A class test, accounting for 20% of the final grade.
• A final exam, accounting for 80% of the final grade.

Teaching Methods and Timetable

The module is delivered through a combination of on-campus lecture sessions and tutorials. Learning materials are provided through videos, review notes, examples, and tutorial questions. The typical schedule includes:

• One hour of lectures, twice a week.
• One hour of tutorials, weekly. Additional sessions may be arranged during certain weeks to provide further examples and support.

Available Courses

This module is available on the following undergraduate courses:

• Accountancy BAcc (Hons)
• Accountancy with Finance BAcc (Hons)
• International Finance - 3.5 years BIFin (Hons)
• Finance BFin (Hons)
• International Finance BIFin (Hons)
• Accountancy and Mathematics BSc (Hons)
• Accounting & Finance BSc (Hons)