How to do a Tax Return

Firstly, you need to be registered with HMRC to process your tax return. You should get an UTR (Unique Tax Reference) number, which is your personal identification number for tax purposes. Once you have details for all income and expenditure, you can submit them electronically to HMRC. The deadline for submitting a personal tax return is 31 January for the previous tax year.

Apply for a Tax Rebate

It is possible that you could be eligible for a tax rebate.

Most possible scenarios are

• When you pay more tax then required
• Submitting incorrect tax return
• Claiming special Tax relief

There could be many more reasons why should you get a tax refund. It is vital to know the scenarios under which you should apply for a tax rebate.

Why Should I Join Personal Tax Training

Most self-employed individuals and company directors are required to submit an annual tax return. By learning how to manage your own self-assessment, you can eliminate costly fees paid to external agents and take full control of your finances.

Beyond saving on administrative costs, you will gain the expertise needed to successfully claim tax rebates that many people miss out on. In fact, statistics show that over 60% of taxpayers are unsure how to complete their tax returns correctly, often losing money simply by not knowing how to claim back what they are owed.

Whether you want to manage your own business finances efficiently or expand your skillset to offer professional tax services to the general public, this training will significantly enhance both your career and business prospects.

Personal Tax Study Options

• Online Distance Learning – Self-study with Study Material and Access to Online Study Material through Virtual Learning Campus. Click Here to find out more about how the Distance Learning Course works.

This course could be cheaper as a bundle when you book Total Taxation Training or Total Accounting Training Package.

Training Content

• Identify the type(s) of returns that may be completed
• Understand the duties and responsibilities of a bookkeeper / tax agent when completing self-assessment tax returns
• Calculating the taxes on profits for Self Employed & on income for Employed individuals
• Understanding differences between Drawings & Dividends
• Introduction to UTR and NI Classes
• Understanding Tax Return submission procedures to HMRC (using 2 individual Scenarios)
• Analysing Class 2 & Class 4 NIC
• Analysing Personal Allowance
• Analysing Income from Self Employments
• Employment benefits Analysis
• Analysis of Car & Fuel benefits
• Analysis on savings and investment income and tax implications on them.
• Introduction to Capital Gains Tax analysis
• Introduction to Inheritance Tax Analysis
• Understanding the procedure for payment and administration of both tax and National Insurance Contributions

Payment Options

You may choose any of the following options to pay for your course

By Debit/Credit Card: You can pay in full on our website using the Enrol Online option. You may be eligible to claim a free Tablet PC (Eligibility Criteria Applies, Find More Here)

Flexible Payment Option: You may consider paying your fees over 6/12 equal monthly instalments/payment plan by paying an initial payment of 30% of Course Fees. The second payment will start from the 1st of the following month from the initial/first payment. The Total Amount payable under the payment plan(s) will be shown during the checkout.

Employer Funded: If your current employer is likely to fund the Course, please send us your employer details (Name, Address, email address, Telephone, and Contact Person) and we will send a Customised Course proposal to ensure a smooth enrolment experience. An invoice for the Employer can also be raised if required. (Find More Here)

If you have further questions about the course, please complete the “Get Course Information Kit” form.

On completion, you should receive an email with the course information. One of our course advisors will also be in touch to check whether you require any further support.