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.
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
Course Curriculum
Module 01: Introduction to Accounting
Introduction
00:03:00
First Transactions
00:05:00
T Accounts introduction
00:03:00
T-Accounts conclusion
00:03:00
Trial Balance
00:02:00
Income Statement
00:03:00
Balance Sheet
00:03:00
Module 02: Income Statement and Balance Sheet
Balance Sheet Variations
00:03:00
Accounts in practise
00:05:00
Balance Sheets what are they
00:05:00
Balance Sheet Level 2
00:03:00
Income Statement Introduction
00:06:00
Are they Expenses or Assets
00:03:00
Accunting Jargon
00:02:00
Module 03: Tax System and Administration in the UK
Tax System and Administration in the UK
00:25:00
Module 04: Tax on Individuals
Tax on Individuals
00:23:00
Module 05: National Insurance
National Insurance
00:13:00
Module 06: How to Submit a Self-Assessment Tax Return
How to Submit a Self-Assessment Tax Return
00:12:00
Module 07: Fundamentals of Income Tax
Fundamentals of Income Tax
00:22:00
Module 08: Payee, Payroll and Wages
Payee, Payroll and Wages
00:18:00
Module 09: Value Added Tax
Value Added Tax
00:24:00
Module 10: Corporation Tax
Corporation Tax
00:17:00
Module 11: Double Entry Accounting
Double Entry Accounting
00:11:00
Module 12: Career as a Tax Accountant in the UK
Career as a Tax Accountant in the UK
00:16:00
Recommended Materials
Workbook – UK Tax Accounting
00:00:00
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