UCL FACULTY OF LAWS

LLB Programmes

LAW OF TAXATION

Teacher
Jacqueline Dyson

Syllabus

  • Introductory Sources,
  • the influence of history eg why does the tax year start on 6th April?,
  • administration of the tax system (in outline),
  • system of appeals,
  • Inland Revenue discretion,
  • judicial review,
  • the Budget,
  • concept of a good tax,
  • distinction between income and capital,
  • schedular system,
  • the tax unit,
  • personal reliefs,
  • rewriting tax law.

Income Tax

  • Definition of office and employment.
  • Income from offices and employment including golden handshakes, benefits in kind eg company cars, mobile phones and accommodation.
  • Overseas earnings.
  • Deduction of expenses.
  • Definition of trade.
  • Trading and professional income, receipts expenditure, stoc in trade, work in progress, attribution of profits.
  • Anti-avoidance legislation.

Inheritance Tax

  • Transfers of value actual and deemed, potentially exempt transfers, exemptions, grossing up, property subject to a reservation, associated operations.
  • Death.

Capital Gains Tax

  • Disposals of assets, computation of gains, inflation, rebasing, indexation allowance, taper relief, exemptions including main residence, gifts, deaths, capital gains tax on settled properties, overseas trusts.

Corporation Tax

  • Systems of corporation tax, harmonisation within EU, UK liability of companies to corporation tax, advanced corporation tax, dividends, schedule F. 1997 changes.

Tax Avoidance

  • Recent developments in the courts.
  • Proposals for general anti-avoidance legislation.
  • Tax simplification.

Reading

Background

  • Kay and King, The British Tax System
  • Monroe, Intolerable Inquisition? Reflections on the Law of Tax
  • Financial section of newspapers, especially Saturday quality press
  • Policy supplement

Textbooks

  • Tiley, Revenue Law
  • Shipwright & Keeling, Revenue Law
  • Butterworths UK Tax Guide
  • Whitehouse, Revenue Law
  • Davies, Principles of Tax Law

Casebook

  • Easson, Cases on Revenue Law

Statutes

  • Butterworths Yellow and Orange Tax Handbooks, or
  • CCH Tax Statutes

Periodicals

  • The specialist legal periodical to which most reference will be made is the British Tax Review. Other frequent reference to articles in Fiscal Studies.

Reference

  • There are numerous specialist practitioner works which will be referred to at the appropriate time during the .

Comment
The course is intended to provide an understanding of the foundations of direct taxation. This will ensure an appreciation of the existence of a tax problem and, in the areas studied in detail, knowledge of the relevant law. Tax awareness is essential for those giving legal advice who have to consider the tax implications of that advice. An understanding of the tax system is also helpful for dealing with personal tax liability, especially with the new self-assessment.

The tax legislation is copious (see the size of the Yellow Book) and the statutory language is complex. Detailed analysis of the statutory material is required so anyone who dislikes or is incompetent at statutory interpretation is discouraged from choosing this option. Case law is important as many crucial terms such as income, employment - are not defined by statute. It is necessary to cope with very simple algebraic formulae but there is no need to be a mathematician to use these or to do tax. The approach is to analyse the legislation as lawyers not accountants.

The subject is a fast moving one with the annual Budget making changes. The fundamentals remain however; the structure of income tax dates from 1803.

Tuition is by a mixture of lectures and seminars. Tutorials are held on a fortnightly basis. Emphasis is placed on critical examination of the current laws but in seminars and tutorials fiscal policy and possible reforms are also discussed. Assessment of the course is by a 3_ hour written examination in the summer.

National Admissions Test for Law (LNAT)
All applicants are required to take the LNAT as soon as possible and no later than 20 January (registration deadline 15 January).

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