UCL FACULTY OF LAWS

LLM Programme

The taught modules offered on the LLM programme vary from year to year. Please check the full list of taught modules list for details of modules running in specific academic years. We make every effort to ensure that every module will be offered, but modules are subject to change and cancellation. You are therefore advised to check this site regularly for further updates throughout the year preceding entry to the LLM programme.


BUSINESS TAXATION (MODULE CODE TBC)
Credit value: 15 credits (6 ECTS)
Module Convenor: Monica Bhandari
Intercollegiate teaching: No
Teaching Method: 10 x two-hour seminars
Who may enrol: LLM students, other UCL Masters students
Prerequisites: None
Barred module combinations: None
Core module for specialism: International Commerical Law, International Banking and Finance Law
Assessment
Practice Assessment: 1 formative coursework essay will be set during the teaching term
Assessment method for Masters students: 2-hour unseen written examination
Module Overview

Module summary

This module considers the way in which businesses are taxed and how this affects the ways in which a business might choose to operate. It will consider the different legal vehicles which can be used when conducting business and how taxation might play a part in making these important decisions. It will examine the system of taxation of businesses in the context of the key taxes in the UK: income tax, corporation tax and capital gains tax. Whilst the course uses the UK tax system as an example, the module deals with questions about the taxation of businesses, including companies, that face all tax systems. Its object is to provide a solid grounding in the principles of the taxation of businesses, and the main rules will be studied in depth in the context of those principles.

Module syllabus

  • General structure of business taxation: income tax, capital gains tax, corporation tax
  • Taxation of self-employed individuals, focusing on problems of taxation of trading and professional income
  • Relationship between income tax and corporation tax, and between legal provisions and accounting practice
  • Corporation tax on income; distributions; alternatives to the imputation system
  • Computation of income for tax purposes; losses; groups and consortia
  • Capital taxation relating to businesses

Recommended materials

  • CCH British Tax Legislation 2012/2013
    Or
    LexisNexis Yellow Tax Handbook 2012/2013
  • Lee Revenue Law Principles and Practice (most recent edition)
  • Tiley - Revenue Law (7th ed., 2012, Hart Publishing)
  • Tiley and Collison’s - UK Tax Guide (most recent edition LexisNexis)

Preliminary reading

  • Lee Revenue Law Principles and Practice
  • Davies: Principles of Tax Law
Other information: none
Prizes for this module: There are currently no prizes available for this module.


APPLICATION NOTICES

The application process for the 2015-16 academic session is now open.

Please note, for the 2015-16 intake, we are not accepting the TOEFL test. If you have an English condition to meet, you must take one of the alternative tests listed here instead.