Module Details

Module Code: TAXS C2303
Module Title: Income Tax and Corporation Tax
Title: Income Tax and Corporation Tax
Module Level:: 6
Credits:: 5
Module Coordinator: Martin Meagher
Module Author:: Mary Meehan
Module Description: The aim of this module is to develop students’ understanding of the theory and practice governing the taxation of individuals and companies. Students will be introduced to Income Tax and Corporation Tax. This module will develop the students analytical skills in assessing the relevant liabilities arising from each category of tax and applying each tax in practical scenarios. It develops students' analytical skills by applying their knowledge and understanding to solving practical problems.
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Calculate the liability to Income Tax for individuals who have various types of income sources and who are entitled to most of the common reliefs and credits.
LO2 Prepare calculations and write reports to outline the various tax issues relevant to different sectors such as self-employed traders and professionals, employers and employees.
LO3 Calculate the Corporation Tax liability of Irish Resident Companies with various income sources.
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
Indicative Content
Administration of self-assessment for individuals
Outline the self-assessment system for the collection of tax and filing of returns; Explain an individual’s obligations under the Pay and File system; Due dates and amounts of taxation payable and the consequence of a late return; Describe the appeals process as it applies to an individual within the self-assessment system; Explain the use of ROS (Revenue’s Online System) in the payment of tax and the filing of returns.
Income Tax
The income tax computation –Classification of various sources of Income for tax purposes. Introduction to the various personal tax reliefs available. Tax -Bands. D.I.R.T. tax band. Advise between carer credit or increased tax band. Refundable and non-refundable tax credits. The concept of tax deducted at source, and tax relief granted at source. Calculation of Income Tax.
Property & Investment Income
The calculation of rental profits. Rent a room relief. Calculation of Capital allowances. Pre-letting expenditure. Commercial properties & residential properties. Use of rental losses. Bank Interest -calculation and credit for D.I.R.T. Irish dividend income. Foreign dividend income.
Schedule E
Round sum expenses. Reimbursement of travel expenses and Revenue approved subsistence payments. Benefit in Kinds- cars, preferential loans, exempt Benefit in Kinds - travel, lunches & vouchers. Pension Relief. Wages slip calculation. Adjustment of Standard Rate Cut off point and Tax credits for other income and reliefs. My Accopunt at revenue website. Adding new job, ceasing job, adjusting credits, manage my tax, balancing statement.
Self -Employed Business
Calculate Adjusted Profits. Statutory Add-backs. Motor Lease Formula. Personal Expenses & Drawings. General and Specific Provisions. Capital Items.
Corporation Tax
The layout of a CT computation. Calculation of adjusted profit for trade or profession. Calculation of CT liability for a company with income from a trade, profession, rental properties, interest and dividends. Treatment of chargeable gains. Payment of tax and making returns.
Module Content & Assessment
Assessment Breakdown%
Continuous Assessment30.00%
End of Module Formal Examination70.00%


Full Time

Continuous Assessment
Assessment Type Examination % of Total Mark 30
Timing Week 6 Learning Outcomes 1,2
Non-marked No
Assessment Description
Student will be requested to do an Income Tax computation with a variety of income sources and a variety of personal reliefs and credits and advice the client of the final tax liability.
No Project
No Practical
End of Module Formal Examination
Assessment Type Formal Exam % of Total Mark 70
Timing End-of-Semester Learning Outcomes 1,2,3
Non-marked No
Assessment Description
End-of-Semester Final Examination
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

SETU Carlow Campus reserves the right to alter the nature and timings of assessment


Module Workload

Workload: Full Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 3.00 3
Independent Learning Time Non Contact No Description Every Week 6.00 6
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Category Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact No Description Every Week 1.50 1.5
Independent Learning Non Contact No Description Every Week 5.50 5.5
Total Weekly Contact Hours 1.50
Module Resources
Recommended Book Resources
  • Patrick Mulcahy. (2020), Irish Taxation: Law & Practice, 18th Edition. 35, Irish Tax Institute, Dublin, p.900, [ISBN: 9781842605561].
This module does not have any article/paper resources
Other Resources
Discussion Note: