UK Tax: Principles and New Developments

Objectives:

A student who has successfully completed this subject should:

• Have up-to-date knowledge of principles of current United Kingdom tax law on income and capital gains and inheritance tax applicable to businesses, taking account of the ongoing rewrite of the tax statutes
• Have a sound understanding of UK case law developments, relevant in both the UK and Australia
• Be aware of the recent case law and legislative developments and controversies in anti-avoidance rules in the UK, in the broader context
• Be aware of the context of European Union tax developments and their impact on UK tax laws, particularly for corporations.

Syllabus:

Principal topics will include:

• Structure of the UK tax on income and capital gains, including rates, tax base, the tax law rewrite, residence, source and death taxes on business
• Overview of the treatment of domestic and foreign shareholders and corporations
• Fundamental principles and new developments in UK case law relating to the definition of income and deductible expenditures, in particular the income/capital distinction in respect of both income and deductions
• UK anti-avoidance case law, including recent House of Lords decisions in historical context
• New developments in UK anti-avoidance law and policy, including legislative reforms and the debate about a General Anti-Avoidance Rule
• European Union tax law developments, including recent developments in the European Court of Justice, and their impact on UK tax law principles and reform.

• Take-home examination (100%) (29 May–1 June)
  
  or
   
• Research paper 10,000 words (100%) (23 July) (topic approved by the subject coordinator)

This subject is not available as a breadth subject.

Objectives:

A student who has successfully completed this subject should:

• Have up-to-date knowledge of principles of current United Kingdom tax law on income and capital gains and inheritance tax applicable to businesses, taking account of the ongoing rewrite of the tax statutes
• Have a sound understanding of UK case law developments, relevant in both the UK and Australia
• Be aware of the recent case law and legislative developments and controversies in anti-avoidance rules in the UK, in the broader context
• Be aware of the context of European Union tax developments and their impact on UK tax laws, particularly for corporations.

Syllabus:

Principal topics will include:

• Structure of the UK tax on income and capital gains, including rates, tax base, the tax law rewrite, residence, source and death taxes on business
• Overview of the treatment of domestic and foreign shareholders and corporations
• Fundamental principles and new developments in UK case law relating to the definition of income and deductible expenditures, in particular the income/capital distinction in respect of both income and deductions
• UK anti-avoidance case law, including recent House of Lords decisions in historical context
• New developments in UK anti-avoidance law and policy, including legislative reforms and the debate about a General Anti-Avoidance Rule
• European Union tax law developments, including recent developments in the European Court of Justice, and their impact on UK tax law principles and reform.

• Take-home examination (100%) (29 May–1 June)
  
  or
   
• Research paper 10,000 words (100%) (23 July) (topic approved by the subject coordinator)