The module covers UK taxation as it applies to the United Kingdom, excluding those areas of Northern Irish, Scottish and Welsh tax that differ.
Unit 1: Income tax – basics
This first unit introduces you to income tax – the tax individuals pay on their personal income. It will explain the various schedules under which taxable income is classified. The focus will be on income tax related to earnings, such as income from employment or investment.
Unit 2: Income tax – self-employment
The exploration of tax on the individual continues by focusing on how income related to self-employment is taxed. This will look at how self-employment is defined, the starting and ending of such employment, as well as any allowances that are available to the self-employed.
Unit 3: Capital gains tax
This unit examines how profits from the disposal of capital assets are taxed. It explores which transactions are affected and how any capital losses may be used to mitigate the tax payable.
Unit 4: Income tax – additional aspects
This unit looks at National Insurance Contributions (NICs) and the taxation of partnerships. It will also consider how pension contributions and payments are dealt with for taxation purposes, and issues regarding tax payments and the various penalties that may arise.
Unit 5: Corporation tax
The module now considers company taxation, including newly formed companies or those winding up. It explains how to calculate how much of the profits are due to be taxed and in which year, and thus which rates apply. This unit explores the use of losses by the loss-making company and within corporate groups.
Unit 6: VAT
This short unit introduces you to value-added tax and describes the overall mechanism for charging and accounting for value-added tax. It will also examine a number of schemes established to help small traders and explore the various interest charges and penalties for late payment.
Unit 7: Inheritance tax and ethics
The final unit looks at the taxation on the transfer of estates. These are charges that typically arise on the estate owner's death but can also arise on the transfer of assets made during the owner’s lifetime. The unit also introduces ethics as an important element of studying taxation. You’ll discover what is meant by the evasion of tax as opposed to the avoidance of tax. It will question how aggressive tax avoidance should be and explore potential ethical dilemmas facing tax advisors.
This module forms part of the BSc (Hons) Accounting and Finance (R52), which has been granted exemptions by the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA) towards its CGMA qualification, the Chartered Institute of Public Finance and Accountancy (CIPFA) and the Institute of Chartered Accountants of Scotland (ICAS).
You’ll get help and support from an assigned tutor throughout your module.
They’ll help by:
Online tutorials run throughout the module. While they’re not compulsory, we strongly encourage you to participate. Where possible, we’ll make recordings available.
Course work includes:
This module includes a remote exam you will take at home or another suitable location. The exam will be invigilated online by ProctorU, a service based outside the UK, with whom you must agree to additional Terms of Service to study this module. Find out more about online invigilation.
You’ll have access to a module website, which includes:
You can study this module on its own or use the credits you gain towards an Open University qualification.
B353 is a compulsory module in our:
Taxation starts once a year – in April.
This page describes the module that will start in April 2027.
We expect it to start for the last time in April 2033.
As a student of The Open University, you should be aware of the content of the academic regulations, which are available on our Student Policies and Regulations website.
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If your income is not more than £25,000 or you receive a qualifying benefit, you might be eligible for help with some of these costs after your module has started.
There may be extra costs on top of the tuition fee, such as set books, a computer and internet access.
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Please note: your permanent address/domicile will affect your fee status and, therefore, the fees you are charged and any financial support available to you. The fee information provided here is valid for modules starting before 31 July 2026. Fees typically increase annually. For further information about the University's fee policy, visit our Fee Rules.
