Module Code: H7TAXADM
Long Title Taxation 1
Title Taxation 1
Module Level: LEVEL 7
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator:  
Module Author:  
Departments:  
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Demonstrate a detailed knowledge of the theory of taxation and how the administration of the Irish Tax system is structured in Ireland
LO2 Demonstrate a detailed knowledge of the legislative provisions pertaining to Income Tax & their application in preparing income tax income computations
LO3 Demonstrate a basic knowledge of key legislative provisions pertaining to Capital Gains Tax
LO4 Prepare basic CGT computations.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Taxation - Theory and the Economy
• History • Role of taxation in the economy. Tax Base • Canons of taxation. Progressive, proportional and regressive taxes. • Classification of Income and Types of taxes. Direct and indirect taxes.
Irish Tax Law and Practice
• How Irish tax law is structured. Tax Acts and Finance Acts. • How to find the relevant provisions in the Irish tax statutes. • The role of case law. • Revenue statements of practice
Administration of the Income Tax System
• Territoriality. Meaning of residence, ordinary residence and domicile and corresponding implication for assessing Irish income liability. Remittance & Limited Remittance Basis. Split Year residence & Domicile Levy • Classification of Income • PAYE system - Scope, Employer obligations, operation of PAYE –SRCOP/Credits, cumulative etc.; refunds via PAYE, Emergency tax. PRSI & USC computation for employees. Relevant forms • Self-assessment & chargeable person. Registration for Income Tax. Obligations under self-assessment. Form 11 • Filing of returns & payment of tax manually and electronically. Self Correction & Appeals. Interest and penalties. Revenue Audits. ROS
General Principles
• Income versus capital. • Classification of tax payers & Income • Layout of Income Tax Computations. • Income tax computation incorporating the following schedules & reliefs/credits.
Schedule D, Cases III/ IV
• Assessable income & basis of assessment. Exempt Income. Operation of the DIRT system. Deposit Interest from EU financial institution.
Schedule D, Case V
• Assessable income & basis of assessment. Premiums on short leases. Losses. Rents paid to Non Residents. Rent a room
Schedule E
• Office & Employment. Contract of services’ and ‘contract for services’. • Assessable income. Valuation of Benefits-in-kind and commencement/inducement & termination payments. Share option schemes. • Round sum expenses & relief for expenses. Mileage, subsistence and relocation expenses.
Schedule F
• Chargeable income. Dividend withholding tax.
Exempt Income
• Income exempt from Income Tax by statute. Exemption Limits
Rates of Tax and Tax Credits, Reliefs and Charges on Income
• Relief for Charges on Income , Tax relief’s at standard & marginal rate and Personal Tax Credits • Rates of tax and Standard Rate Cut Of Points • Coverage of key credits & key tax reliefs - carer/nursing home, PHI, Revenue Job assist, Charitable donation, Pension contributions, BES, EII and Film Investment • Charges on Income – Covenants, Patent Royalties. • Age exemption, childcare services, retirement of certain sports persons & artist exemption.
Taxation of Married Couples
• Bases of assessment. Death & separation/divorce
CGT
• Principles of Capital Gains Tax –disposals, consideration, timing etc. • Basis of assessment and the tax rate applicable. Indexation relief, annual exemption. • Allowable/disallowable expenditure. • Practical personal computations including: ¿ assets acquired before & after 6 April 1974 ¿ part disposals ¿ assets passing on death ¿ losses – prior year & death ¿ disposals of chattels (wasting and non-wasting) ¿ Exemptions and relief’s including principal private residence and disposal of site to child ¿ Administration of the CGT self assessment system. Self assessment and payment of Capital Gains Tax.
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

No Coursework
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4
Non-Marked: No
Assessment Description:
End-of-Semester Final Examination
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 3 Every Week 3.00
Practical No Description 2 Every Week 2.00
Total Weekly Contact Hours 5.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Practical No Description 2 Every Week 2.00
Total Weekly Contact Hours 2.00
 

Module Resources

Recommended Book Resources
  • Chartered Accountants Ireland. (2012), CA Proficiency 1 Taxation ROI 2012-2013.
  • Chartered Accountants Ireland. (2012), CA Proficiency 2 Taxation ROI - 2012-2013, Capital Gains Tax.
  • Irish Taxation Institute. (2012), Irish Taxation Law & Practice - 2012/2013, 2012.
Supplementary Book Resources
  • Doyle Dr. G; Irish Taxation Law & Practice – Irish Taxation Institute.
  • BPP Business Taxation (Irish).
  • Income Taxation - Irish Taxation Institute.
This module does not have any article/paper resources
Other Resources
Discussion Note: