Manual PAYE/Self Assessment
Course Summary
This Certificated Payroll course will teach you the basics of a manual PAYE system – invaluable if you need to understand how PAYE works or if you’re running your own business and have employees.
Also included is Self Assessment (tax calculations for the Self Employed)
In this easy-to-follow payroll course, you will learn:
- How to use HM Revenue and Customs Income Tax and National Insurance tables
- Various forms required by HM Revenue and Customs
- How to comply with HM Customs’ requirements.
- Staff tax records
- Self Assessment
This Course will quickly give you the confidence and skills needed to tackle Income Tax, National Insurance Contributions and Taxation for the Self Employed.
Also your will learn the basics of Corporation tax including:
- What is Corporation Tax and who is subject to Corporation Tax requirements
- What you need to do for Corporation Tax and when you need to do it
- Using an accountant or tax adviser
- What is Corporation Tax Self Assessment
- What is an accounting period for Corporation Tax
- Taxable profits for Corporation Tax and how they are calculated
- Why you can’t just pay Corporation Tax on your pre-tax profits in your accounts
- Corporation Tax financial years and Corporation Tax rates
- File your Company Tax Return online
Further Details
In this Course you will cover:
- Principles of the PAYE payroll system; terminology used to calculate gross pay; using HM Revenue and Customs tax tables to calculate total free pay and total taxable pay for a basic and higher rate tax payer; the use of tax codes when calculating net pay;
- Completing the PAYE entries on a deductions working sheet (Form P11) for weekly paid employees.
- Completing the PAYE payroll entries on the P11 Form for monthly paid employees.
- Completing National Insurance entries on a P11 Form for weekly and monthly paid employees
- Completing a P45 for a leaver
- Self Assessment – how to calculate tax and NI for the Self Employed
- Principles of Corporation Tax
- Very practical assignments using tax and NI tables – these are to be submitted for personalized feedback
- Certificate awarded upon successful completion of the course