Self-Assessment for Individuals
Practical Course in London
Self-assessment for individuals affects a lot of people, so it is a hugely important area of taxation. This course provides a detailed overview of self-assessment for individuals.
ABOUT THE COURSE
Self-assessment (SA) for individuals is a hugely important area of taxation as it affects so many people. HMRC issue and receive around 12million tax returns each year. The penalties for non-compliance are severe and can prove to be very costly.
This course identifies and explains the main principles and practice underlying the UK's SA tax system for individuals. You will get to grips with how the system works and the issues that may need to be addressed. By the end of the course, you will have a good understanding of the basic SA system for individuals.
The course is relevant to any finance professional in business and industry who is involved in personal tax. It also appeals to staff in accountancy and/or tax practices, who need to gain an understanding of the basic principles of self-assessment.
THIS COURSE WILL ENABLE YOU TO
Explore the key issues of self-assessment (SA) - focusing on what it is, who it affects, timescales and deadlines, and various statutory record-keeping requirements
Understand the format of SA returns and various claims and elections that may be required
Gain knowledge on additional compliance and reporting issues faced by the self-employed
Register for HMRC’s online services
Understand HMRC’s enquiries and investigations procedures and learn to negotiate satisfactory outcomes
The Career Opportunities
✔ Tax Advisor or Tax Consultant
✔ Self-Employed Tax Preparer
✔ Payroll and Bookkeeping Services
✔ Freelance Tax Consultant
Content of the course
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Key issues for individuals
Defining self-assessment
Processing returns
Individuals affected by self-assessment
How self-assessment works
Timescales and deadlines
Record-keeping requirements
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Liabilities and reliefs
Employees and self-assessment
Tax returns and responsibility
Pension contributions
Making claims for gift aid
Marriage allowance claims
Paying tax as an individual
Late payments and penalties
Proposed penalties
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Self-employment and self-assessment
Registering for taxable profits
Understanding trading allowance
Choosing the cash basis
Recording payments on account
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Registering online
HMRC oversight
Enquiries and investigations
Closure notices
Making a settlement
Making tax digital
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What You’ll Learn:
• Key aspects of self-assessment, deadlines, and penalties.
• Managing tax returns, claims, and reliefs for individuals and employees.
• Handling self-employment registration, trading allowances, and payments.
• Using HMRC’s digital tools and submitting tax returns online.
• Dealing with HMRC enquiries and investigations confidently.
*After purchasing the course, please download the PDF file containing the link to the WhatsApp group.