[Solved] Discuss current developments in corporation tax and the role of corporation tax a fiscal policy tool in the UK - D

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[Solved] Discuss current developments in corporation tax and the role of corporation tax a fiscal policy tool in the UK - Define corporation tax

In this paper, you are provided with 3 sections on Tax, you are asked to discuss the following aspects in your report:

• Current developments in corporation tax and role of corporation tax as a fiscal policy tool in the UK.
• Ethical and strategic tax issues and appropriate tax planning to encourage business to invest in the UK.
• Treatment of trading losses and treatment of subsidiary within and outside the EU.

Guidelines for Coursework

SECTION A

Discuss current developments in corporation tax and the role of corporation tax a fiscal policy tool in the UK

-       Define corporation tax

-       Discuss any current developments – bbc news

-       Role of corporation tax in government fiscal policy

-       Highlight shift in rates

-       Plans for the tax system

-       Highlight the 24 different taxes in uk

-       Compare tax rates to other EU countries

Not to be done in the same order, but these are just some hints and highlights that should be included in section 1

SECTION B

Critically evaluate and analyse any ethical and strategic tax issues faced by UK companies

-       Ethical position of companies

-       Tax evasion and tax avoidance

-       Fair trading

-       Corporate social responsibility such as health and safety among others

-       Discuss how appropriate tax planning can encourage business to invest in the Uk by highlighting a few reliefs and benefits available to businesses such as

-       Research and development allowance

-       Patent box regime

-       Annual Investment Allowance (AIA)

-       NIS Allowance

-       Small companies business rate allowance

-       Among others

SECTION C

Discuss treatment of trading losses for a single company and group of companies

How are subsidiaries and treated within the EU or outside the EU (in terms of trading losses)