BM636 UK Taxation Assignment – Buckinghamshire New University UK.

Subject Code & Title: BM636 UK Taxation
Word Count : (3000 words)
Weighting : 50%
Assignment task :
1) ‘It is acknowledged that the determination of residence status for corporate bodies is often far from clear-cut and that considerable judgment is necessary in applying the rules to practical situations. Corporate residence is a key tax risk management issue. (DAVID HUGHES, 2005). Critically discuss how the residence status of a corporate body is determined in the UK, citing laws and relevant decided court case(s) in the application of the principles.
BM636 UK Taxation Assignment – Buckinghamshire New University UK.

BM636 UK Taxation Assignment

2) Corporation tax is paid by UK resident companies on their worldwide income (except Dividends from UK companies) and gains for an accounting period (AP). The total income and gains of a company is known as taxable total profits (TTP).

Critically examine all the sources of income available to UK resident companies including adjustments that might be needed in arriving at the Taxable Total Profit (TTP).

Overall presentation of your work (evidence of research, referencing, report format,spelling grammar and punctuation).

This assignment has been designed to provide you with an opportunity to demonstrate your

achievement of the following module learning outcomes:
LO 1: Explain and compute the corporation tax liabilities of individual companies and groups of companies.
LO 2: Computation of chargeable gains for corporate bodies.

BM636 UK Taxation Assignment – Buckinghamshire New University UK.

BM636 UK Taxation Assignment

Task requirements:
From your report you will obtain marks for the following:
1) You will be required to identify and discuss in detail, laws, principles and methods for determining the residence status of UK corporate companies including exceptional rules such as double treaty arrangements. Reference to relevant Finance Acts, Companies Acts and other relevant academic and professional sources are required. You will also be required to state at least two relevant decided court cases (case laws) used to determine the residence status of corporate bodies in the UK.

2) Students will be required to critically appraise all the sources of income available to UK Companies, highlighting the gross amounts, possible adjustments to those incomes, and how TTP is determined. Reference must also be made to Qualifying Charitable Donations (QCDs) and treatment of Dividend Income. (12 marks for each source well discussed and referenced, maximum of 5 sources).

3) Overall: Presentation of your work (report format, spelling grammar and punctuation).

How your work will be assessed
Your work will be assessed against the assessment criteria which have been provided at the end of this brief.

These criteria have been designed specifically for this assignment and are intended to measure the extent to which you have demonstrated your achievement of its associated learning outcomes (see above). They have been aligned with the institutional grade descriptor appropriate for your level.

BM636 UK Taxation Assignment – Buckinghamshire New University UK.

BM636 UK Taxation Assignment

The assessment criteria provide a basis for fair and consistent marking and indicate what is expected of you in this assignment. It is strongly recommended that you engage with them while you are working on the assignment and use them in combination with any feedback you receive once your work has been marked to help you plan for future learning and development.

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