Module Title:Taxation HC in Accounting
Language of Instruction:English
Credits: 10
NFQ Level:6
Module Delivered In 3 programme(s)
Teaching & Learning Strategies: Lectures - communication of knowledge and ideas from the lecturer to the student. Problem Solving Exercises - student will work as part of a team and will work together to resolve various legal scenarios. Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. E-Learning - It is envisaged that the module will be supported with on-line learning materials. Self-Direct Independent Learning - the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim: The aim of this module is to develop students’ understanding of the theory and practice governing the taxation of individuals and companies. Students will be introduced to Income Tax, Corporation Tax, VAT, Local Property Tax, Stamp Duty, Capital Gains Tax and Capital Acquisitions Tax. This module will develop the students analytical skills in assessing the relevant liabilities arising from each category of tax and applying each tax in practical scenarios. It develops students' analytical skills by applying their knowledge and understanding to solving practical problems.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Calculate the liability to Income Tax including PAYE, PRSI, USC and LPT for individuals who have various types of income sources and who are entitled to most of the common reliefs and credits.
LO2 Calculate the taxable income of self-employed traders or professionals.
LO3 Calculate the Corporation Tax liability of Irish Resident Companies with various income sources.
LO4 Calculate Capital Gains Tax liabilities arising from the disposal of common types of assets.
LO5 Describe the Value Added Tax process in Ireland. Complete VAT returns and calculate the VAT liability.
LO6 Calculate a Capital Acquisitions Tax liability for an Irish resident in receipt of gifts or inheritances.
LO7 Calculate the Stamp Duty charge arising on the transfer of an Asset.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed

Module Content & Assessment

Indicative Content
Income Tax (35%)
The income tax computation –Analysis of income, trading, investment and rental income, personal reliefs, refundable and non-refundable tax credits. The tax bands-standard, lone parent, differentiation, DIRT. The concept of tax deducted at source, and tax relief granted at source. Calculation of Income Tax. Calculation of PAYE, PRSI and USC. Calculation of a payslip. Calculation of; benefits in kind; exempt BIK’s , deductible expenses;. Taxation of Irish rents; dividends and interest.
Corporation Tax (20%)
The layout of a CT computation. Calculation of adjusted profit for a self-employed trader or professional Calculation of CT liability for a company with income from a trade, profession, rental properties, interest and dividends. Treatment of chargeable gains. Payment of tax and making returns.
Capital Gains Tax (15%)
Chargeable assets, exempt assets The CGT Computation –Market Value, cost base, acquisition costs, enhancement expenditure and incidental costs of acquisition, exclusion of expenditure claimed against income tax, indexation, connected persons, treatment of grants, part disposal .Treatment of losses for individuals and companies. Development land, Assets passing on death, married persons –transactions between spouses, exemptions Principal Private Residence relief. Transfer of a site to a child. Administration; returns
Value Added Tax (10%)
The multi-stage nature of VAT. Self-supply. Place of Supply of goods & Services. The VAT rates. VAT Exempt supplies. Registration for VAT - obligation, election, cancellation. Non –deductible items, partial deduction of input VAT . Cash basis. Invoice Basis. Administration of VAT,-Calculation of VAT liability/refund. Completion of returns
Capital Acquisition Tax (10%)
Calculation of liabilities for gifts and inheritances Relief for business and agricultural property.
Stamp Duty (5%)
Charge to Stamp Duty. Calculation. Exemptions. Reliefs. Stocks. Securities. Property.
Local Property Tax (5%)
Liable person. Valuation date. Calculation of LPT.
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Examination Student will be requested to do an Income Tax computation with a variety of income sources and a variety of personal reliefs and credits and advice the client of the final tax liability. 1 9.00 Week 7
Presentation Lecturer will assign students into groups and each group will be asked to research a topic from any tax head on the course and present to the class. 1,2,3,4,5,6,7 4.00 Week 12
Examination Class exam preparing students for final exam and professional exams. 2,3,4 9.00 Week 19
Multiple Choice Questions Multiple choice allowing revision from a variety of taxes in order to encourage students to start revision for Summer exams. 1,2,3,4,5,6,7 8.00 Week 27
No Project
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4,5,6,7 70.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment


Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 3.00
Independent Learning Time Every Week 4.00
Total Hours 7.00
Workload: Part Time
Workload Type Frequency Average Weekly Learner Workload
Lecture Every Week 1.50
Independent Learning Every Week 5.50
Total Hours 7.00

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBACT_B Bachelor of Arts (Honours) in Accounting 2 Mandatory
CW_BBLAW_B Bachelor of Business (Honours) in Business with Law 3 Mandatory
CW_BBCAA_C Higher Certificate in Accounting 2 Mandatory