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- Understand Personal Tax, Self Assessment, Corportation Tax and VAT - the rates, who it effects, deadlines, how to register and general overview of the UK system
- Student need to have an interest in learning about the tax system in the UK
This course explains the basics of 4 types of UK taxes: VAT (Value Added Tax), Corporation Tax, Personal Tax and Self Assessment. We cover who needs to register, by when, deadlines, filing penalties, how to register, rates of tax and also National Insurance.
For VAT we look at the different VAT schemes available, which services are vatable, the VAT threshold, the different rates of VAT, how VAT is filed, where you go to register for VAT and when etc.,
For corporation tax - we look at who is affected by it, the rate, where to go to register, the filing deadlines and penalties, the obligations and the relationship between HMRC and Companies House. etc.,
For Self Assessment - we look at who is affected, late filing penalties, where to register, what records to keep and for how long etc.,
For employed people - we cover the tax rates and National Insurance Rates - and the different types of classes of National Insurance, that exist, when they apply and when they don't.
- Entrepreneurs, business owners, self employed, those who need to have an overal general understanding of the UK tax system