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Advanced Taxation Coursework

1. SUBMISSION This report has a 60% weighting in calculating your overall module mark.

It must be produced in a single Microsoft Word document and uploaded to Moodle Submission Inbox by Thursday 30th March 2017. You must keep a duplicate copy of all work submitted for assessment.

2. Specific instruction relating to the coursework

(a) For your guidance – the report should include the following:

– Title/cover (including the name/number of the course, the name of the module and coursework, your name and student number, the date and the word-count)  – Page of contents – Main body of report (Parts one, two, three and four) – Bibliography (using Harvard style of referencing) – Appendices.

(b) The attention of every student is drawn to the warning in the course guide on late submission of coursework, mitigating circumstances and plagiarism.  For guidance on copyright and referencing see the following section ‘Guidance on referencing’.

(c) It should be noted that 10% of the marks is reserved for the quality of presentation as reflected by the bibliography, reference citations in text and cross referencing

(d) Ensure your entire answer is contained in one file only –  upload that file to the Submission Inbox.

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Guidance on referencing (Supplied by Academic Misconduct Officer)

Correct referencing is an academic skill that you will be assessed on.

Correct referencing demonstrates that you have read appropriately on the subject, shows that you are acknowledging the sources you have used (that you are not trying to cheat) and provide information on useful sources of information to your reader.

Doing it correctly demonstrates professionalism. Doing it incorrectly will lead to reduced marks and possibly to disciplinary action, which includes the possibility of having your studies terminated.

I do see cases where the student has clearly deliberately attempted to cheat. These are dealt with very firmly. However, most cases I see are where students have either referenced poorly or not bothered with referencing at all. Otherwise good work often fails in these circumstances.

Guidance on referencing itself is available from the resources listed at the end of this sheet.  If you have any concerns about your referencing ask for help before submitting.

Checking your referencing

You are required to upload your coursework to the Advanced Personal Taxation Moodle site BAE_6_ATX_1617. Use this site for checking your work for matching text. This will reveal where you have not fully referenced. You will need to reference correctly or remove the matching text from your final submission. The matching source given by the check may not be the one that you used. Make sure you use the Library Help sheets to guide you on correct referencing (style: Harvard).

When you submit your coursework you must submit a copy of the latest matching Turnitin report.

The version to submit is the ‘Show highest matches first’ version (the one with numbers in the boxes) as this is the easiest for you to check your work.  When you look at your report (use the ‘Show highest matches first’ version) you will see that there is a list of sources on the right that match (numbers in boxes) to the highlighted text on the left.

Remember, the point of this exercise is not to remove all matching text, but to make sure that it is properly referenced.

If you have a match of 1% or less, this will almost certainly be because of coincidence.  We are not concerned about matches of 1% or less. You do not have to do anything about these.

You need to look at all matches of 2% and above.  Where there is such material that is matching you must ensure it is referenced or remove it from your work.

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Points to note:

1. The source given in Turnitin may not be the source you used. Reference where you got the material.
2. If it is a quote make sure you have used quotation marks and give the page number from the source in your reference too.
3. If you have rewritten somebody’s words (this is called paraphrasing) you must reference the source. You may see this in your report as bits of matching text in a paragraph.
4. If the match given is to another student (this or another University), you have probably both used material from a textbook. Make sure you have referenced the material correctly to the textbook you have used.
5. If it matches to another student because you have worked together you are almost certainly going to have to remove it. In an individual coursework this would be seen as academic misconduct, in a group coursework it may be appropriate, but check your submission requirements.
6. If you have used material from a source and the Turnitin check does not show it you still must reference it. Thousands of new sources are added to Turnitin every day.

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Advanced Taxation Coursework

YOU MUST ANSWER BOTH PARTS OF THIS ASSIGNMENT

PART ONE – SELF-EMPLOYMENT

Henry commences a new business on 1 January 2015 and has produced the following results:        Trading profit before     Capital        Capital Allowances  Allowances

Year ended 31 December 2015  Profit £24,000  £28,500   Year ended 31 December 2016  Loss    £9,100    £6,400   Henry has no other income during this period. He previously had a well-paid job prior to starting the new business.   REQUIRED: Prepare a report for Henry that sets out all the income tax implications of the results presented above.

Your report should cover all relevant matters including basis periods, capital allowances loss relief options and national insurance.

17 marks (1,200 words)

PART 2 – PRINCIPAL PRIVATE RESIDENCE

Yasmin Shah has recently sold her house in Ealing for £975,000. She had purchased it for £120,000 in 1984.

She had lived there for most of her life apart from a period in the 1990’s when she worked in the USA and a 4 year period from June 2000 when she went to live with her elderly mother.

She had let the property out to tenants when she worked in the USA, but it was left empty when she lived with her mother.

She also used one room in the house as an office for 5 years when she running her own business from 2008.

REQUIRED Prepare a report for Yasmin that sets out all the key principles relevant to Principal Private Residences (PPR’s) in terms of Capital Gains Tax. Your report should cover all relevant reliefs including letting relief relevant to PPR’s.

Rates of tax payable and dates of payment of any tax should also be covered.

18 marks – 1,300 words)