Companies are essentially legal vehicles for carrying on a business enterprise. Taxation is a key factor in business decisions, regarding how funds are raised and invested. How to raise tax from businesses without damaging the economy is a central element in government policy.
The module will review the basics of the UK tax system as they apply to businesses, the basis of accounts and aspects of the computation of income and tax liability common to all businesses and particular features affecting individual traders, partnerships and companies. It will then examine the taxation of company distributions, groups of companies, and equity, debt and loan relationships. Finally, the module will consider transactions between companies and shareholders and corporate reorganisations and reconstructions and places the UK taxation of companies into an international framework.
3.15 hour examination