Complete Taxation Course

75 Sessions
400 Hours

Welcome to our comprehensive Taxation Training course designed to equip you with the knowledge and skills necessary to navigate the intricate world of taxation with confidence.

Course Overview

Whether you're a seasoned professional looking to refine your expertise or a novice eager to delve into the realm of taxation, our course offers a comprehensive overview tailored to the requirements of the U.K. market. Our Traning includes software like Sage, Xero, Quickbooks and advanced excel to better handle MTD requirements by the HMRC.

Upon completion of the course, you'll be prepared for a range of job roles including Tax Advisory, VAT Manager, Financial Accountant, and more, equipped with the knowledge and skills to excel in the dynamic field of taxation. Join us on this transformative journey and unlock your potential in the world of taxation.

Suitable For

This course is suitable for

Individuals starting their career in Accounting with Taxation as their field.

Business Owner’s who want to complete and automate their day to day accounting activities.

Individuals coming from Accounting background from outside of the U.K.

Course Modules

Bookkeeping and VAT

Chart of accounts and changes to reflect the client structure
Tax codes and intra company transfers
Sales day book including the COA Structure
Purchase day book with supplier reconciliations, with debtor days
Credit notes and effect on VAT Reconciliations
Petty cash reconciliations and dealing with the commercial cards and director’s accounts reconciliation.
Director Loan Account with dividends and employ loan schemes.
Mileage claims and fuel scale charges
Reverse Charge and implication on VAT returns
Bank reconciliation with complete banking transaction data analysis, reconciliation reports and end to end automated bank feed integration
Nominal coding structure with difference in different industries.
Bank Statement (Bank payments, Bank receipts, supplier payments, customer receipts, supplier refund, Customer refund, Transfer from one bank account to another)
Different VAT Schemes (Standard VAT Scheme, Cash VAT Scheme, Flat VAT Scheme, Retail VAT Scheme)
Dealing with different Bank account including Foreign Currency translations

Payroll

The annual payroll cycle...Why does 6th April start the tax year?
What sources of official employer guidance is there?
How do you check the employer’s PAYE account online?
How do you arrive at an employee’s gross pay and what is taxable and NI’able?
Understanding National Insurance: key definitions, classes and table letters
What are the important considerations regarding Directors’ National Insurance?
How to calculate Standard ‘A’ rate NI
The difference between cumulative tax and non-cumulative NI
Understanding personal tax allowances
The importance of tax weeks
Dealing with pension schemes and submission.
How is a tax code calculated?
How to allocate tax codes to new starters
Using adjustment tables and tax tables in tax calculations
An introduction to SSP and SMP including tips and traps
The workshop includes an introduction to all the HMRC forms, technical aspects, important dates, tax codes and year-end adjustments. It also includes a reference to HMRC website for more up to date knowledge.
Setting up employee records, managing the pay elements, deductions, overtime and statutory payment rules.
An overview of the apprenticeship levy, student loan processing and court order handling

Accounts Assistant

Foreign Currency reconciliations, Dollar, euro and Sterling reconciliations exchange
Import and Export
CIS Schemes, with complex contractor and subcontractor structure.
Accruals, adjustments, identification, calculation and impact on the double entry bookkeeping via Advanced excel templates and on computerised accounting software.
Prepayments, adjustments, identification, calculation and impact on the double entry bookkeeping via Advanced excel templates and on computerised accounting software.
Trail Balance, extended trial balance.
Dealing with double entry concepts.
Balance Sheet reconciliations, including IAS 16 implications on fixed Asset registers, calculation of Depreciation journals and concept of double entry for Depreciation journals.
Month ends on excel to thoroughly understand the concept of reversals and other important journals. Carrying on month ends.
Loan Interest Schedules with effect on cash flow forecast. Dealing with issues of company cash flow and working capital issues.
Opening balance Adjustment for the new month, quarter and annual basis to understand the effect on the financial statements.
Yearend journals with complete understating of the final trail balance
In-house profit and loss accounts, balance sheet

Final Accounts

Introduction
Enter data
Sets of accounts
Create a set of accounts
Manage sets of accounts
Enter a trial balance
Standard trial balance
Enter a comparative trial balance
Extended trial balance
Populate trial balance from accounting
Import from CSV file
Chart of accounts
Create nominal accounts
Nominal groups list
Nominal groups
Create journals
The journal's list
Prior period adjustments
The Data page
Enter officers and professional advisers
The Accounts Preview tab
Manage accounts preview content

Corporation Tax

Introduction to Corporation Tax Online
Tax Calculation
Computation Data
Company Information
Information for the Return
Payments and Repayments
Tax Avoidance
Loss Relief Deductions Allowance
Adjustments to Trade Profit
Losses
Capital Allowances
Qualifying Charitable Donations
Non-trade Loan Relationships
Non-trade Deficits
Loans to Participators
UK Property Business – Adjustments
UK Property Business – Capital Allowances
UK Property Business – Losses
Attachments
Online filing errors
Producing computation
Submitting tax return

Self-Assessment

Identify the different type(s) of returns that may be completed based on individual taxpayer requirement
Completely able to fulfil the duties and responsibilities of a bookkeeper / tax agent when computing the self-assessment tax returns; focusing on the deadline and rules from HMRC
Computing the tax liability for sole traders or individuals like cab drivers or owner of corner shops, nurses, dentist or agency staff working on locum with NHS, having varying sources of income.
Understanding the directors’ responsibilities and liabilities whilst making drawings or using same bank account for personal and business purposes; dealing with allowable and disallowable expenses for tax computation purposes
Introduction to UTR and NI Classes; classifications and payments attached to each. Timeline, tax year rules and much more.
Understanding Tax Return submission procedures to HMRC (using real individual Scenarios)
Analysing Class 2 & Class 4 NIC
Analysing Personal Allowance and CIS deductions
Analysing Income from Self Employments and working out the trading reliefs
Employment benefits Analysis and learning to fill in P11Ds
Analysis of Car & Fuel benefits, mileage claims and real income computation for tax purposes
Analysis on savings, investment income, and tax implications on them.
Introduction to Capital Gains Tax analysis and implications of PPE relief
Introduction to Inheritance Tax Analysis and implications of Taper relief
Understanding the procedure for payment, administration of both tax, and National Insurance Contributions

Career Path

Tax Advisory

Tax Consultant

VAT Manager

Payroll Administrator / PAYE Manager

Accounts Assistant / Junior Accountant

Financial Accountant

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This course includes:

Corporate reporting, IFRS and CT 600 Calculations
Trial Balance Adjustments until FTB
Manual calculation of SSP, SMP, SAP and more
Complete Bookkeeping, VAT and Payroll
VAT Schemes, Claims and Adjustments including Penalties and Surcharges
IFA Endorsed Certificate of completion
Control Account, P&L and Balance Sheet Reconciliation
CV and Recruitment support
Offices available in Finchley, Harrow, Hounslow, Mile End, Corydon, Birmingham and Manchester
Free AAT Level 2 Included
Fully flexible structure – On Demand Training
Sage, Xero , QuickBooks and Adv. Excel for Bookkeeping