Learning Outcomes:
By the end of this module, students should be able to:
• Identify transactions in which any of the taxes covered in the module may apply;
• Identify whether any of these taxes applies to a particular transaction;
• Identify whether any reliefs apply to mitigate any tax liability arising for any of these taxes;
• Identify whether a proposed transaction should be modified to avail of any particular relief;
• Compute any tax arising in relation to a transaction;
• Identify the parties liable to pay any tax arising;
• Identify the due dates for the paying of any tax arising and the filing of any returns
Students should also be able to:
• Identify the impact of residence, and a change of residence, on the charge to CGT;
• Give basic advise on the administration of an estate and the taxation of inheritances;
• Identify anti-avoidance provisions and double tax relief available for CAT;
• Identify whether a trust exists and what type of trust it is;
• Identify any taxes arising on the transfer of assets to a trust,
• Outline the tax arising within the trust and the tax arising on the assets being appointed from a trust
• Outline the implications of a business making both taxable and exempt supplies for VAT
• Outline and/or apply the principles regarding the international supply of goods and services for VAT
• Determine the VAT treatment on the transfer of a business
• Outline and/or apply the VAT treatment of the supply of land and buildings in Ireland
• Outline the principles of a VAT Group
Indicative Module Content:
Topic 1: Capital Gains Tax Introduction; recapitulation of undergraduate/CAP 1 material.
Topic 2: Capital Gains Tax Shares; principal private residence relief; incorporation relief.
Topic 3: Capital Gains Tax Retirement relief; revised entrepreneur relief, site-to-child relief; 4/7 relief; miscellaneous topics.
Topic 4: Stamp Duty Introduction; charge & rates; residential and non-resident property; shares; leases; s31 contracts; exemptions and reliefs.
Topic 5: Capital Acquisitions Tax Introduction; definitions; thresholds; aggregation; small gift exemption.
Topic 6: Capital Acquisitions Tax Group threshold exceptions; joint tenants and tenants in common; market value; liabilities, costs and expenses; consideration; prohibited deductions; limited interests.
Topic 7: Capital Acquisitions Tax Agricultural relief; favourite nephew/niece relief; s104 relief; limited interests as liabilities; cesser of liabilities.
Topic 8: Capital Acquisitions Tax Business relief; free use of property; powers of revocation; benefits free of tax; payment by instalments; surcharges.
Topic 9: Capital Acquisitions Tax Dwelling house relief, benefits for period certain, limited benefits; annuities; pay and file; late filing; returns; overseas aspects and double tax relief.
Topic 10: Capital Acquisitions Tax Wills; grants of administration and probate; Succession Act; lapse; disclaimer; deeds of family arrangement; life assurance; trusts; powers of appointment.
Topic 11: Value Added Tax Introduction; recapitulation of undergraduate/CAP 1 material.
Topic 12: Value Added Tax Cross-border VAT; VAT on property; VAT and Brexit; one-stop-shop; apportionment; VAT groups; transfer of business relief.