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New Skills Academy Tax Accounting Certificate New Skills Academy
  • Duration / Course length: Upto 16 Hours Start now
  • Accredited in: UK
  • Accredited by: CPDIAO
  • Certificates:
  • Course delivery: This course is delivered in presentation format

Course details

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.However, the primary focus of this course is taxation from a business point of view, making it a great piece of reference for just about any business owner or entrepreneur. 

Tax responsibilities as well as the most important dates and deadlines have been noted down and instructions on registration and payment have also been included, making sure you have all the knowledge to successfully manage company tax returns, corporation tax and claim business reliefs that can help your business.The course outlines the PAYE scheme in detail and explores what it is like to run a payroll, choose payroll software, produce payrolls for your employees and make the appropriate deductions.One of the most common business taxes in the world and in the UK is the Value-Added Tax or VAT. 

This course is your primary detailed guide to the various rates of VAT, when to charge them and how to claim back VAT that has been charged on your own purchases. Further, it explores the rules, regulations and taxes for trading internationally as well as exporting and importing to and from the UK. 

 The last sections of the course aim to teach you practical accounting, starting from defining the basic accounting concepts for beginners and taking it further to how to prepare financial reports, calculate various financial ratios and analyse how successful the business is performing. 

 Finally, there are a number of international standards when it comes to taxation and accounting reporting and the course provides an overview of how the existing tax standards came into being and which international and British organisations enforce these regulations. Keeping up with the recent news, it also outlines the possible impact that the upcoming exit from the European Union may have on taxation in the UK.

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
Updated on 06 November, 2018

Job roles this course is suitable for:

Tax Consultant , Tax Advisor

About New Skills Academy

In November of 2013, a single question was asked: ‘What do you want to learn?’ From there, a vision was born of comprehensive, high quality, and affordable online course availability. The name behind that vision was New Skills Academy.

When it comes to online schools, there are plenty, but at New Skills Academy we distinguish ourselves amongst the competition with our dedication to your long-term goals. If you are entering a job market for the first time, or seeking a new career, we will provide you with the fast and efficient online support you need to make your dreams a reality.

Our expertly designed courses, detailed lesson plans and student testimonials all attest to the fact that we take great pride in our course offerings and provide only the best for our students. Often, people dream of pursuing a degree or certification but never find the time to follow through. We know life gets busy, which is why our customers can take our courses online from anywhere while still working. Students can access our courses from a PC, mobile phone or tablet; this means you can learn anywhere you go.

Our students’ reputation matters, which is why all of our online courses have been reviewed and certified in partnership with qualified industry experts. For added security and peace of mind, all of our courses have been approved by CPD.

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