Business Law and Practice (MLP) - BML0019

Assessment 1: Other

Activities providing opportunities for formative assessment will generally be integrated into the teaching and learning process and apply to all components of summative assessment.  The nature of the formative assessment tasks used will be at the discretion of the tutor, to include for example, workshop exercises, quizzes, group discussions. 

Other

Assessment 1: Exam

Closed Book MCQ Exam 
The minimum pass mark in this module is 50% of the aggregated marks from both papers.
A student may only have three attempts (at different sittings) at this module.  A student who fails to gain an overall mark of 50% in this module will be governed by the Legal Practice Course Assessment Regulations, incorporating the Solicitors Regulation Authority Legal Practice Course Assessment Requirements.
Exams are undertaken as 5 hour block. The course skills element of Drafting is assessed via the MSD for BHL0074 – Course Skills which is taught within this module.

EXAM

Assessment 2: Exam

Exam 
The minimum pass mark in this module is 50% of the aggregated marks from both papers.
A student may only have three attempts (at different sittings) at this module.  A student who fails to gain an overall mark of 50% in this module will be governed by the Legal Practice Course Assessment Regulations, incorporating the Solicitors Regulation Authority Legal Practice Course Assessment Requirements.
Exams are undertaken as 5 hour block. The course skills element of Drafting is assessed via the MSD for BHL0074 – Course Skills which is taught within this module.

Exam

Course Skills 2 (MLP)

BHL0074 - Course Skills 2 (MLP)

This module is designed to provide students with a knowledge of the following main topic areas: Business Accounts – Business organisations; sole traderships; partnerships; limited liability partnerships; the formation, administration, management and control of companies limited by shares – Taxation: income tax; capital gains tax; corporation tax; value added tax – Insolvency: bankruptcy; receivership; administration and liquidation – Business Agreements; agency and distributorship agreements.
Skills development is woven throughout the whole of this module: the delivery will enhance skills in drafting, researching and interviewing and advising.

Huddersfield Business School

<a href="https://library.hud.ac.uk/readinglists/BML0019">https://library.hud.ac.uk/readinglists/BML0019</a>

BML0019 - Business Law and Practice (MLP)

Business Law and Practice (MLP)

Investigate and identify the relevant facts, research, identify and critically evaluate the relevant legal issues, and advise the client on the legal consequences.

Be familiar with the roles, rights, responsibilities and liabilities of the participants in the various business media.

Understand the main features of the income tax system including total income; personal allowances; calculation of income tax liability.

Identify the client's goals and alternative means of achieving those goals, demonstrate the ability to critically evaluate the range of means of achieving those goals, and deal appropriately with client care.

Understand the basic principles of VAT including registration of taxable persons; taxable supplies; input and output tax; standard and zero rating; exemptions.

Draft and critically review documentation to give effect to business transactions including drafting notices, agendas and minutes of meetings and complete and file routine statutory forms and maintain and up-date statutory books.

Identify the client’s reasonable expectations as to quality and timeliness of service.

Advise on taxation of profits (income and capital) generated by and distributed by the business.

Be familiar with the procedures required to incorporate a company and/or form a partnership and understand the approvals, filings and procedures to enable the business to commence operating.

Advise the client as to the advantages and disadvantages of different business media including sole traders, partnership and companies.

Progress common business transactions and advise and take steps relating to the business’s on-going operations.

Understand the procedures to alter the constitution of a company and to appoint and remove the officers of a company.

Understand the nature and structure of the different business media and the legal and taxation implications of each type.

Use the legal knowledge, skills, procedures and behaviours appropriate to each client and each transaction matter.

Advise on steps to protect the assets of the business.

Advise on issues arising from basic finance and lending.

Critically analyse and interpret a simple balance sheet and profit and loss account of a sole trader, partnership and limited company.

Understand the corporation tax principles relating to the charge to tax and charges on income.

Understand the main principles of capital gains tax, including the charge on the disposal or deemed disposal of assets and the calculation of chargeable gains.

Understand the construction of a simple balance sheet and profit and loss account of a sole trader, partnership and limited company.

Draft documentation and interpret and use appropriate precedents for documents, including partnership agreements, memoranda and articles of association, shareholder agreements, board and members’ resolutions, and to notify and effect the transaction in clear and unambiguous language.

Demonstrate a systematic understanding and critical awareness of current legal and related problems leading to a strategic approach to reaching a solution

Advise on the options for and claims arising on insolvency, e.g. bankruptcy, winding up and administration

Advise on form and legal structure and on the cost, procedures, formalities and taxation implications of setting up and running the business.

Understand how to allot, issue and transfer shares.

Identify the overall nature of the transaction or matter, then plan and progress that transaction or matter through a series of steps and decisions including, where appropriate, drafting documentation.

Recognise and act within the rules of professional conduct.

Be aware of good professional practice and conduct within these areas.

Interpret and apply primary source materials, constitutional documents and other relevant agreements.

Understand the nature of shareholders’ funds.

Understand the terms used and basic accounting concepts and be familiar with how accounting data is used to prepare a profit and loss account and a balance sheet.

Demonstrate an appreciation of the continuing duties, obligations and liabilities of the business and of its partners, directors and shareholders.

Understand the accounts of a sole trader, partnership and company.

Understand the main exemptions and reliefs from capital gains tax.