Curriculum Information

LC3S230 - Business Law and Practice and Taxation 06 Jul 2023 - 31 Aug 2025 | Version 4

Associated Module Information

Document Version Information

Module Aims

To enable students to acquire a knowledge of the essential features of this core area of practice, namely:

to understand the common types of business media and in particular:

* be able to advise the client as to the advantages and disadvantages of different business media;

* be able to advise on form and legal structure and on the cost, procedures, formalities and taxation implications of setting up and running the business;

* be familiar with the procedures required to incorporate a company and / or form a partnership and understand the approvals, filings and procedures to enable the business to commence operating;

* be familiar with the roles, rights, responsibilities and liabilities of the participants;

* understand the procedures to alter the consultation of a company and to appoint and remove the officers of a company;

* understand how to allot, issue and transfer shares

To be demonstrate an ability to:

* progress common business transactions and advise and take steps relating to the transaction;advise on entering into contracts on behalf of the business and the steps to protect assets;

* advise on basic finance and lending;

* Draft notices, agendas and minutes of meetings and file routine statutory forms;

* Advise on taxation of profits generated and distributed by the business;

* Demonstrate an appreciation of the continuing duties, obligations and liabilities of the business and its partners, directors and shareholders;

* Advise on the options for and claims arising on insolvency;

Demonstrate a knowledge of stakeholders and:

* Understand the different interests of parties involved in the business and be aware of conflicts;

Understand the basic principles of business accounting and:

* Understand the terms used and basic business accounting concepts;

* be familiar with accounting data and prepare a profit and loss account and a balance sheet;

* understand the nature of shareholders’ funds.

Students should Demonstrate a grasp of tax law to enable them to understand the impact of taxation on the areas covered by the course and should:

* understand the main features of the income tax system, capital gains tax, inheritance tax, corporation tax, value added tax (VAT).

Content Summary

Learning and Teaching Methods

Learning Outcomes

Module Requisites

N/A

Assessment Criteria

Assessment Matrix

Reading List