Course Highlights
Beginning with an introduction to accounting principles and concentrating on the compilation of the income statement and balance sheet, this course explores the nuances of UK tax accounting. As students advance, they will acquire knowledge of the UK tax system and administration, as well as the importance of National Insurance and personal tax duties. Modules include basic income tax principles, self-assessment tax return submission, and experience with payroll, PAYE, and wage management.
Value Added Tax (VAT) and Corporation Tax are important topics for UK-based firms, and the programme delves further into their intricacies. A strong foundation for precise financial record-keeping is provided by highlighting the concepts of Double Entry Accounting. Emphasising the relevance and application of the course material in the business world, the last module provides an outlook on pursuing a career as a tax accountant in the UK.
After completing the course, participants will have all the information they need to successfully navigate UK tax accounting, whether for managing their personal finances, maintaining compliance in business operations, or seeking a career in tax accounting.
Learning outcome
- Understand the UK tax system and administration.
- Accurately prepare income statements and balance sheets.
- Navigate the complexities of tax on individuals and National Insurance.
- Complete self-assessment tax returns proficiently.
- Grasp the essentials of PAYE, payroll, and wages.
- Apply VAT and Corporation Tax principles effectively.
- Build a foundation for a successful career in tax accounting.
Course media
Why should I take this course?
- Master UK Tax Accounting principles to manage personal and business finances.
- Ensure compliance with UK tax regulations and avoid penalties.
- Enhance employability in the finance and accounting sector.
- Gain skills in tax preparation and submission.
- Lay the groundwork for a successful career in tax accounting.
Career Path
- Tax Accountant
- Financial Analyst
- Payroll Manager
- VAT Specialist
- Corporation Tax Consultant
- Self-Assessment Advisor
- Accounting Technician
Requirements
- Basic understanding of accounting principles.
- Interest in UK tax law and compliance.
- Dedication to completing all modules and assignments.
Course Curriculum
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Introduction00:03:00
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First Transactions00:05:00
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T Accounts introduction00:03:00
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T-Accounts conclusion00:03:00
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Trial Balance00:02:00
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Income Statement00:03:00
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Balance Sheet00:03:00
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Balance Sheet Variations00:03:00
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Accounts in practise00:05:00
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Balance Sheets what are they00:05:00
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Balance Sheet Level 200:03:00
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Income Statement Introduction00:06:00
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Are they Expenses or Assets00:03:00
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Accunting Jargon00:02:00
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Tax System and Administration in the UK00:13:00
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Tax on Individuals00:12:00
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National Insurance00:08:00
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How to Submit a Self-Assessment Tax Return00:09:00
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Fundamentals of Income Tax00:16:00
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Payee, Payroll and Wages00:12:00
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Value Added Tax00:15:00
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Corporation Tax00:09:00
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Double Entry Accounting00:05:00
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Career as a Tax Accountant in the UK00:08:00
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Workbook – UK Tax Accounting
14-Day Money-Back Guarantee
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Duration:2 hours, 36 minutes
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Access:1 Year
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Units:25
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