Module Code: H7TAXCORP
Long Title Taxation 2
Title Taxation 2
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 comprehensive knowledge of principles and practice pertaining to the taxation of self employed income & capital allowances.
LO2 Prepare detailed Income Tax computations incorporating trade/professional income/losses & capital allowances.
LO3 Demonstrate a fundamental knowledge of the legislative provision and principles of Value Added Tax
LO4 Prepare basic VAT 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
Computation of Schedule D, Cases I & II
• Meaning of Trade, vocation and profession. Chargeable income. • Badges of Trade • Basis of Assessment. Relationship between financial accounting periods and tax years including commencements, cessations, short lived business and change of accounting date. Death cases. • Computation of tax adjusted profit/Loss incorporating allowable/disallowable expenditure.
Capital Allowances
• Computation of capital allowances. Balancing allowances/charges. • Plant versus industrial buildings. Motor vehicles. • Treatment of Capital Grants, Hire Purchases & Leases • Capital Allowances carried forward
Loss Relief
• Legal & Conventional Basis. • S381 and 382 Loss Relief. Relief arising in Third Year adjustment • Losses & Capital Allowances
Other trade related issues
• Partnerships. Interest On loans to invest in Partnership/shares • Relief for cost of providing for retirement. • Professional services withholding tax. • PRSI and USC for Self Employed
Value Added Tax (VAT)
• General principles. Legislation & Directives. • Taxable individuals & registration, including groups. • Charge to Vat applicable rates & exemptions. • Deductible & Non Deductible VAT. • Supply of Goods and Services & determination of place of supply. Self supply. Gifts. • Vat reverse charge • Intra-Community Acquisitions and supplies and Vies/Intrastate • Export/Imports • Cash Receipt Basis. • Basic VAT computations. • Administration of the self-assessment system. Record keeping
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Assignment % of total: 30
Assessment Date: n/a Outcome addressed:  
Non-Marked: No
Assessment Description:
n/a
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

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
Lecture No Description 3 Every Week 3.00
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • Chartered Accountants Ireland. (2012), CA Proficiency 1 Taxation ROI 2012-2013.
  • Irish Tax Institute. (2012), Income Taxation, 10th. Income tax and VAT.
Supplementary Book Resources
  • Chartered Accountants Ireland. CA Proficiency 2 Taxation ROI 2012 - 2013.
  • Doyle Dr. G. Irish Taxation Law & Practice, Irish Taxation Institute.
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: