Module Title:Capital Taxes for HC in Accounting & Business with Law
Language of Instruction:English
Credits: 5
NFQ Level:6
Module Delivered In 2 programme(s)
Teaching & Learning Strategies: Lectures -will communicate knowledge and techniques to the student. Problem Solving Exercises - student will work as part of a team and will work together to resolve various tax and legal scenarios. Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. 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 capital taxes for individuals and companies. Students will be introduced to Capital Gains Tax, Capital Acquisitions Tax, Local Property Tax, Stamp Duty and VAT. 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 Prepare Capital Gains Tax Computations and Returns for companies and individuals. Students will be able to advise clients of compliance requirements in relation to filing and payment and be able to advise clients of the relevant tax reliefs available and the application to their situation.
LO2 Calculate the Capital Acquisitions Tax liability for an Irish resident in receipt of gifts or inheritances. Students will be able to advise clients of compliance requirements and the various reliefs available which would minimize the CAT tax liability.
LO3 Describe the Value Added Tax process in Ireland. Complete VAT returns and calculate the VAT liability.
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
Irish Tax System in Ireland
The Irish tax system; Sources of revenue law; The interaction of the Irish Tax System with that of other jurisdictions. Explain the difference between tax planning, tax avoidance and tax evasion; Explain the need for an ethical and professional approach. The procedures relating to Revenue audits. Outline the principal elements of the Revenue Charter and Code of Practice.
Capital Gains Tax
Chargeable assets, exempt assets. Compliance payment dates and filing requirements. The territorial scope of CGT. 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. Development land, Assets passing on death, married persons –transactions between spouses. Wasting chattels, non-wasting chattels and Monetary gains. exemptions. Principal Private Residence relief. Transfer of a site to a child. Retirement relief for sole traders. Entrepreneurial Relief. The seven year relief (assets purchased 2011-2014). Administration; returns
Capital Acquisition Tax
The territorial scope of CAT. The group thresholds for various relationships and circumstances. Application of benefits since 1991.Gift Splitting. Absolute interests. Life interests. Small gift exemption. Calculation of liabilities for gifts and inheritances. Agricultural Relief. Business RElief. Dwelling Property Relief.
Value Added Tax
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
Stamp Duty
The Charge to Stamp Duty. Rates of Stamp duty & Calculation. Exemptions. Reliefs. Stamp duty on gifts.
Local Property Tax
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 calculate the tax liability of the transfer of an asset, or family business. Student will be required to provide advice regarding the relevant tax reliefs. 1,2 30.00 Week 7
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 70.00 End-of-Semester

SETU Carlow Campus 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 6.00
Total Hours 9.00
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_BBLAW_B Bachelor of Business (Honours) in Business with Law 5 Mandatory
CW_BBCAA_C Higher Certificate in Accounting 3 Mandatory