Module Code: H8TX2
Long Title Taxation 2
Title Taxation 2
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: COLIN WHITSTON
Module Author: Isabela Da Silva
Departments: School of Business
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 principles and practice pertaining to the taxation of self-employed income and capital allowances.
LO2 Prepare detailed Income Tax computations incorporating trade/professional income/losses & capital allowances.
LO3 Demonstrate a fundamental knowledge of the legislative provisions CGT and the ability to prepare basic CGT computation
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).
18402 H7TAXADM Taxation 1
Co-requisite Modules
No Co-requisite modules listed
Entry requirements

Programme entry requirements  
 

Module Content & Assessment

Indicative Content
Computation of Schedule D, Cases I & II (30%):
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 (20%):
Computation of capital allowances on plan. Balancing allowances/charges. Motor vehicles. Plant versus industrial buildings. Farm buildings allowance. Treatment of Capital Grants, Hire Purchases & Leases. Capital Allowances carried forward.
Loss Relief (10%):
S381 and 382 Loss Relief. Relief arising in Third Year adjustment. Losses & Capital Allowances.
Other trade related issues (20%):
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
CGT (20%):
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 incl. principal private residence and disposal of site to child. Administration of the CGT. Self-assessment system. Non-compliance -surcharges /interest.
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 30
Assessment Date: n/a Outcome addressed: 1,2
Non-Marked: No
Assessment Description:
Candidates are required to complete one in-class examination worth 30%.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3
Non-Marked: No
Assessment Description:
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.
Reassessment Description
Candidates will attempt the repeat assessment for the module, if they do not successfully pass the module. Learners are required to attempt all assessments attaching to a module. For those modules where all learning outcomes are assessable with a final examination, the student does not have to re-sit failed individual CA components.

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 Classroom and demonstrations 2 Every Week 2.00
Lecturer Supervised Learning Mentoring and small-group tutoring 1 Every Week 1.00
Directed Learning Directed e-learning 3 Every Week 3.00
Independent Learning Independent learning 8 Every Week 8.00
Total Weekly Contact Hours 6.00
 

Module Resources

Recommended Book Resources
  • Chartered Accountants Ireland. CA Proficiency 1 Taxation 1, 2021/22.
  • Chartered Accountants Ireland. CA Proficiency Taxation 2, 2021/22.
Supplementary Book Resources
  • Mulcahy Dr. P. (2021), Irish Taxation Law & Practice Volume 1, Irish Taxation Institute.
  • May Laurence. (2021), Irish Taxation Law & Practice Volume 2, Irish Taxation Institute.
This module does not have any article/paper resources
Other Resources
Discussion Note: