This course deals with the policy and tax issues which underpin new financial techniques and the products which have been based on these techniques. Basic to the course are the principles underpinning the deductibility and timing of interest payments. Derivative products are considered, particularly the instruments on which they are based, such as options, futures and forwards. More detailed consideration is given to specific products which are current in the market place such as instalment warrants, convertible securities, synthetic equity, LEPOS, swaps and the like. Recommended Prior Knowledge: Completion of ATAX0303 and ATAX0307

This course develops a contextual approach to provide an understanding of the practical problems and solutions available to participants in, and advisers to, the structured and synthetic market. Concepts of financial arbitrage are embedded into the tax profile of many of these securities. On successful completion of this course, a student should have acquired the knowledge and skills to analyse the proper tax treatment of a range of products, such as warrants and options, futures and forwards, and synthetic equity.

For information on course modules and learning outcomes click here.

Flexible Learning