CONS08015 2022 Business and Property Taxation

Explore the audit process, performance management, fraud, business ethics and corporate social responsibility within a finance capacity 

Demonstrate the tax implications in the Irish Tax System from a business perspective including employees.  

Appraise the purpose of Value-Added Tax (VAT) on the sale of goods and services within a business, outline the accountable person for the payment of VAT and examine the exemptions of VAT on goods and services.  

Examine the purpose of Capital Gains Tax on the sale, gift, or exchange of an asset and Capital Acquisition Tax following a death or gift received. Apply the methodology and provide advice for scenario-based exercises.  

Explore the purpose of Stamp Duty charged on the transfer of ownership of property Apply the methodology and provide advice for scenario-based exercises. 

Demonstrate the process and procedure involved for Probate from a valuation and sale transaction perspective. 

This module will be delivered through lectures. Moodle is used by lecturers to direct and manage the learning process and facilitates formal learning, posting of lecture notes and continuous assessments, additional resources and supporting documents. Informal learning: social communication between learners.

Moodle will also be further used as a means of assessment, utilising online quizzes, for the uploading of assignments of reports.

This module will be assessed as follows: 40% Continuous Assessment 60% Final Exam

Students who fail an element of the module will need to repeat each element (exam and or final exam) as instructed by the module lecturer

Explore the audit process, performance management, fraud, business ethics and corporate social responsibility within a finance capacity.

• Audit process and procedures for filling and standards  

• Identification of fraud (Anti money laundering, acceptance of cash policy and proof identity when purchasing property)  

• CSR – Open and Honest, environmental and sustainability, charitable 

• Tax administration system – self assessment, expression of doubt, revenue audit (field desk audit procedure & appeal) 

Demonstrate the tax implications in the Irish Tax System from a business perspective including employees.  

• Capital Gains Tax for companies 

• Corporation Tax 

• Income Tax - PAYE/PRSI/USC - what are these taxes, who is obliged to register, how are they operated. Clarification of income, tax computation, Tax bands & Tax credits, Employee v Self Employed, residents & domiciles 

Appraise the purpose of Value-Added Tax (VAT) on the sale of goods and services within a business, outline the accountable person for the payment of VAT and examine the exemptions of VAT on goods and services.  

• VAT – Taxable person, rates of VAT, Input credits, Valid VAT Invoice, VAT Computation, Exemptions, Accountable person for the payment of VAT 

Explore the purpose of Capital Gains Tax on the sale, gift, or exchange of an asset and Capital Acquisition Tax following a death or gift received. Apply the methodology and provide advice for scenario-based exercises. 

• Capital Gains Tax – Indexation, monetary K index, CGT computation, Part Disposal (land), Exemptions, Reliefs, Exempt disposals, Assets passing on death (inheritance tax), Principal Private Residence Relief, Non-resident individuals, Disposing or selling of shares, Group Thresholds  

• Capital Acquisitions Tax - Computations for CAT, Exemptions for CAT, Valuation and Taxable Value, Tax rates, Reliefs, Making a return and paying CAT, Completing a Self-Assessment Return Form  

Explore the purpose of Stamp Duty charged on the transfer of ownership of property Apply the methodology and provide advice for scenario-based exercises. 

• Stamp duty rules  

• Transfer between spouses, civil partners, and cohabitants 

• Exemptions  

• Reliefs available on farmland transfers within a family  

• Rates Residential and non-residential property  

Demonstrate the process and procedure involved for Probate from a valuation and sale transaction perspective.

• Fair deal scheme repayment process and sale of asset  

• Probate valuation of assets and managing the estate