Course description
Tax Accounting Certificate Training Course
The Tax Accounting course aims to improve your understanding of the way tax and accounting systems in the UK work which would be particularly useful to small business owners, entrepreneurs, employed people and anyone looking to improve their general knowledge on the wide subject of tax. The course is split into ten different topics sorted in a logical progression from fundamental knowledge of the various taxes applicable to companies and individuals in the UK, to the advanced accounting methods and financial analysis techniques.
In order to define the complex tax terms, we have used real-life examples throughout the course that illustrate each tax concept and give you a practical perspective on the theory that the course covers. Furthermore, you can check what you have learned with a carefully prepared test.
In this course, you will be able to learn about Her Majesty's Revenue and Customs and gain a unique overview of taxation laws and rules in the UK. Employment is another area that the course covers as it outlines the rights and responsibilities both for employers and employees with regards to tax.
There are numerous benefits and allowances as part of the UK’s welfare system that is funded by the taxpayers in the UK and comes from National Insurance contributions and Income tax, the two primary methods of taxing individuals. People in hardship as well as individuals who perform special duties can benefit greatly from claiming such allowances to help them make ends meet.
Upcoming start dates
Suitability - Who should attend?
Who can take the course?
Anyone who has an interest in learning more about this subject matter is encouraged to take the course. There are no entry requirements to take the course.
Outcome / Qualification etc.
What you will learn:
- What tax is and how the taxation system in the United Kingdom operates
- What taxes apply to individuals residing in the United Kingdom
- What benefits and allowances exist to support people in underprivileged positions
- How to calculate National Insurance contributions based on individual earnings
- What the different National Insurance classes are and who they apply to
- How to calculate Income Tax and demystify tax codes
- What income can be tax free and the various tax reliefs for individuals
- How to calculate Corporation Tax that companies get charged on their sales
- The mechanics of VAT and the VAT schemes are used to reclaim VAT on purchases
- What charges apply to international imports and exports in the EU and outside the EU
- How to import and export goods and services and prevent double taxation
- What double entry accounting is and how debit and credit operations affect accounts
- How to do your own company accounting, preparing and submitting Annual Returns
- What financial organisations set international standards that influence laws in the UK
- What international standards of tax reporting apply in the UK
Training Course Content
- Module 1: UK Taxation, Tax on Individuals
- Module 2: Benefits and Allowances
- Module 3: National Insurance & Income Tax
- Module 4: Business Taxation, Corporation Tax
- Module 5: PAYE, Payrolls and Wages
- Module 6: Value Added Tax (VAT)
- Module 7 : Exporting and Importing goods and services
- Module 8: Double Entry Accounting
- Module 9: Management Accounting and Financial Analysis
- Module 10: Tax Organisations and Standards
Course delivery details
We estimate that the course will take about 16 hours to complete in total, plus an additional 30 minutes for the end of course test.
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