- Location: Online course
- Certification: Included
- Course Access : 12 Months
- Exam Included : Yes
- Entry Requirements : None
- Compatibility: All major devices
Whether you are thinking about learning tax accounting as a hobby or you have an interest in working as a Tax Accountant and want to boost your career to the next level, our tax accounting diploma can give you the insight, skills and knowledge you need to thrive in this career.
Become a top-notch tax accountant, made up of ten modules with an average completion time of fifteen hours.
Introduction to Tax Accounting
This detailed course has been designed for anyone who wants to drive their career forward as a Tax Accountant. The course covers a large variety of topics spanning over ten detailed modules.
During the tax accounting course, you will learn about UK taxation, tax on individuals, you will learn about benefits and allowances.
In addition to this, you can learn about national insurance & income tax, taxation in the UK and so much more.
The great thing about this course is that there are no entry requirements so you can literally get started up today without having to study any other courses. You don’t need any specific education or work experience, just the desire to learn, enhance your knowledge and skills and succeed in your desired career moving forward.
Once you select the tax accounting diploma and your payment is received, you can start learning straight away. Everyone can study flexibly at different paces, which is why this course is such a great opportunity, enabling you to work and study in your available time. On completion of the course, you will need to complete a multiple-choice test and on passing, you will be issued a certificate that you can download and print which is recognised by industry professionals.
What you will learn in the Tax Accounting Course
The tax accounting diploma comprises ten detailed modules for you to learn and gain knowledge from. In total the modules should take around fifteen hours to complete, bearing in mind that everyone studies at different paces and some people will have more time to study than others.
The essential modules in this course include:
- You will learn PAYE, payrolls and wages, value-added tax (VAT) and double-entry accounting
- Gain a closer understanding of exporting and importing goods and services
- Learn management accounting and financial analysis
- You will learn tax organisations and standards
- As part of this course, it’s important to understand Indirect and direct method for calculating cash flow and preparing a cash flow statement
Benefits of the Tax Accounting Course
The tax accounting course will provide you with a host of skills and knowledge you will be able to use on a daily basis. There are a number of benefits to completing the tax accounting course:
- Master what it takes to become a professional tax accountant.
- Accelerate your career as a tax accountant.
- Learn new skills that will add value to your CV.
- A financially rewarding career with flexibility and career progression.
Course Modules/Units
UK Taxation, Tax on Individuals
- The origins of taxation and various types of tax
- What is HMRC and what is its function
- What taxes are applicable to individuals in the United Kingdom
- Your rights and obligations as an employee and as a self-employed individual
Benefits and Allowances
- Overview of benefits and allowances and how these work in the United Kingdom
- What are Working Tax Credit, Employment and Support Allowance
- What are Jobseeker’s Allowance, Reduced Earnings Allowance and Bereavement Allowance
National Insurance & Income Tax
- What type of classes, rates and categories apply with regards to National Insurance
- How much National Insurance contributions you pay when employed/self-employed
- Tax codes, rates and allowances and how they affect Income tax
- How to submit a Self-Assessment Tax Return
Taxation in the UK
- How business taxation works in the UK
- The Business Tax Road Map (BTR) and HMRC’s views of the future
- Company Tax Return and how to submit one
- Capital Tax Gains and Rates
PAYE, Payrolls and Wages
- What is PAYE, when is it used, as well as the basics of running a payroll
- Your responsibilities while running a payroll
- Payslips and reporting to HMRC
- What is the PAYE Settlement Agreement
Value Added Tax (VAT)
- What Value Added Tax is, and the three rates of VAT that exist in the UK
- Registering for a VAT number and how to submit a VAT return
- How VAT Annual Accounting Scheme can help companies with a large taxable turnover
- What the VAT Flat Rate Scheme is and how it helps to simplify your VAT charge
Exporting and Importing goods and services
- Classification of Goods
- What is an EORI number?
- Importing from EU and Non-EU countries
- Duty relief for imports and exports
Double Entry Accounting
- The fundamental accounting equation and its role in accounting
- What are transactions, accounts and ledgers and how they relate to each other
- What the terms debit and credit mean in the accounting context
- The definition of double-entry accounting
Management Accounting and Financial Analysis
- Management Accounting and Financial Analysis
- How to Prepare Balance Sheet
- An indirect and direct method for calculating cash flow and preparing a cash flow statement
- Reporting assets in the Shareholder’s equity statement
Tax Organizations and Standards
- International standards
- International organisations that are responsible for tax and accounting regulations
- Common Reporting Standards and why it matters for individuals
- UK Regulatory Organisations