This course aims to help you to understand tax systems in the UK. It starts with explanations of the different types of tax and revenue sources. You will discover the history of tax, how it has evolved over thousands of years, how tax impacts the economy and the seriousness of tax evasion and avoidance. Next, you will look at VAT and its function within a business taxable supplies, the rates involved in VAT, and the different inputs and outputs when accounting for VAT.
The course will also cover the different types of national insurance contributions and the different payments that employed, self-employed, and people who are both employed and self-employed may need to pay. You will comprehend various tax codes and allowances that are applicable. In addition, you will explore what a self-assessment tax return is, who needs to submit one, and how. You will also review important dates and deadlines for self-assessment.
The following section will discover the PAYE system and how HMRC can collect tax and national insurance from employees and businesses. We will discuss tax codes, their calculation, and important dates for reports, payslips, and payments. Inheritance, income, individuals, capital gain, and corporation tax will be explained in detail. The final section will help you understand the different aspects of accounting and financing in business.
What You Will Learn In This Free Course
View All Learning Outcomes View Less All Alison courses are free to enrol study and complete. To successfully complete this course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this course, you have the option to acquire an official , which is a great way to share your achievement with the world.
Your Alison is:
- Ideal for sharing with potential employers
- Great for your CV, professional social media profiles and job applications.
- An indication of your commitment to continuously learn, upskill & achieve high results.
- An incentive for you to continue empowering yourself through lifelong learning.
Alison offers 3 types of s for completed courses:
- Digital : a downloadable in PDF format immediately available to you when you complete your purchase.
- : a physical version of your officially branded and security-marked
All s are available to purchase through the Alison Shop. For more information on purchasing Alison , please visit our FAQs. If you decide not to purchase your Alison , you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Account Settings.