COURSE OBJECTIVES: This course provides a detailed review of the UK income tax regime and explains how income tax liability is calculated. Also covered is the system by which individuals in the UK have to provide the tax authorities with information about their tax affairs and the powers and sanctions of HMRC in administering the system.
COURSE CONTENT
The Basis of UK Income Tax Liability
- Fundamental principles
- Chargeable persons and chargeable periods
- Types of taxable income
- Employees
- Self-employed
- Rents
- Investment income
- Trusts and estates
Computing Income Tax Liabilities
- Rates of tax and allowances
- Differential tax rates on income sources
- Basic rate taxpayers
- Higher rate taxpayers
- Pension payments, gift aid donations
- Exemptions and expenses
- Tax computations and examples
Self-Assessment and Compliance
- Tax returns - filing and payment obligations
- The penalties regime
- Interest and surcharges
- HMRC enquiry powers and procedures
Special Categories of Taxpayer
- The elderly
- Children
- Husband and wife taxation
- Non-residents and non-domiciled individuals
WHO SHOULD ATTEND
Those who are new to income tax.
"The speaker's depth of knowledge and enthusiasm made it a great day."
Would you like this course run in-house? Call us on 0207 566 8207 to find out more