Taxation AF3201 Coursework Help-Professional Accounting Assignment Help
Taxation AF3201
Coursework Instructions
Written answer in hard copy (not a presentation or online). Group work for 3-4
persons. The coursework should be in hard copy and posted in the coursework
submission boxes (Cass Student Lounge, 3rd Floor Drysdale building). Please ensure
you attach a front cover sheet which includes all the groups’ names and student ID
numbers. Deadline: 10am Thursday 19th April.
There is no minimum or maximum word count but guidance is given below.
Background information:
You are a trainee accountant employed by Omega Partners, a firm of Chartered
Accountants that provides advice to its clients on UK and overseas issues for both
corporate and individual clients.
Your manager is Sasha Valentine and she is in the process of handing over her client
work before her maternity leave. Sasha has asked you to assist her with some of the
outstanding issues prior to her departure.
Emails from Sasha:
Email 1:
To: Trainee@ omega
From: S.Valentine @omega
Subject: Personal tax clients
The Harrisons
Anya Harrison is a high wealth individual and the firm has given her income tax
advice in the past. She has contacted me about her husband Noel and his pension
arrangements. Please look at attachment 1 which contains information from Anya.
Please prepare a document appropriate to send to Anya and her husband explaining
the pension rules that are relevant to him and any charges that might arise in
2017/18 or in the future. Noel does not like long documents so please restrict your
document to no more than two to four pages, including any numerical examples you
feel are necessary to illustrate his position.
In addition, please send me an email about the issues regarding advising Noel,
engagement letters and possible conflict of interest, including the latest guidance
given in Professional Conduct in Relation to Taxation (PCRT).
Email 2:
To: Trainee@ omega
From: S.Valentine @omega
Subject: Corporate tax clients
The Andromeda Ltd group is one of my largest clients and the new finance team are
visiting our offices next month to discuss their expansion plans and some of the tax
implications. As you are aware they are heavily involved in the space industry and I
need you to prepare a brief PowerPoint presentation on the tax consequences of
research and development costs in various jurisdictions, suitable to pass onto
Howard Rausch, one of my colleagues.
Specifications for the power point slides
The group finance director, Leon Tessler is quite knowledgeable with regard to
corporation tax, but his new team are not. Please prepare slides that explain the tax
effect of research and development expenditure in the UK to them, so focus on the
UK issues initially. However, Andromeda Ltd is looking at possibilities in various
other jurisdictions including the Republic of Ireland and India, so I need some slides
with highlight points of the tax relief for research and development expenditure in
those countries.
I am anticipating a slide show of 10-15 slides, no more. However, can you also
provide some brief notes accompanying each slide to help my colleague Howard
Rausch deliver the presentation. The notes should not be more than 3-4 pages long
in total. When you include points about Ireland and India, please put a brief
reference to the source of your information at the bottom of the notes so Howard can
check the information.
Attachment 1
Pension information from the Harrisons:
Noel has been appointed as a director of a construction company, Towers Ltd with a
salary of £90,000 per year, which is an increase on his previous earnings from
Hamlet Ltd, where he was employed at £56,000 p.a. with no pay increase for the past
five years:
1. Noel has been offered the opportunity to join the Towers Ltd occupational scheme
where he is required to make contributions and Towers Ltd will also contribute. This
is a money purchase scheme and he is not sure what this means, so please explain
this to him and the tax effect of any contributions made by him and/or TowersLtd.
2. Noel has made contributions of £50,000 per year into a personal pension scheme
since 2013/14. If he chooses not to join the Towers Ltd occupational scheme he will
continue to contribute to his personal pension scheme and make a contribution of
£80,000 for 2018/19.
3. Assuming he continues to contribute to his personal scheme, what lump sum can
Noel withdraw when he chooses to retire and is there any limit on the size of the fund
available to provide him with a pension?
You are required to:
1) Prepare the pension document for Noel, addressing the issues raised.
(25 marks)
2) Prepare the email to Sasha on engagement letters and conflict of interestmatters
affecting the Harrisons.
(25 marks)
3) Prepare the slides and notes requested by Sasha Valentine regarding research and
development.
(50 marks)
Total: 100 marks
