The ICB Level 4 Self-Assessment Tax Returns course is designed for those wishing to complete returns for Individuals and Businesses but not Limited Companies.
**This ICB Level 4 Certificate in Self-Assessment Taxation course is available to anyone qualified to Level 3 and above. More information is available in the tabs below**
All self-employed people are required by law to complete a Self-Assessment Tax Return every year, so for an ICB self-employed bookkeeper offering this service, this can provide a very good revenue stream. In the past this would be left to a third party accountant but with this knowledge and qualification it means all of the Bookkeeping right through to Year End and submission of the Tax Return can now be handled by the ICB Certified Bookkeeper.
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ICB Certificate – Level 4 Self-Assessment Tax Returns
Completely up to date 2018/2019 Tax Year
Exam Fee up to the value of £85.00 Included
This course is designed for qualified ICB Members wishing to learn how to complete Self-Assessment Tax Returns.
Purchasing this course will give you FREE access to ICB’s award-winning membership benefits scheme, ICBenefits
- 1 x Workbook
- 1 x Activity answer book
- Online Assessments
- Online Mock Exam
- Exam fee included
You need to be qualified to Level 3 or above to take the Certificate in Self-Assessment Tax Returns course.
If you are qualified to Level 3 (or above) through another awarding body other than the ICB, then you can apply for exemption and then take this course.
AAT students (e.g.) who have completed the level 2 & 3 qualifications within 2 years will need to pay an exemption fee of £100 (usually £200). You will also be required to submit a CV and proof of your qualification.
AAT students (e.g.) who have completed their level 2 & 3 qualifications over two years ago, but within 5 years will have to complete the above stages and also complete an application for exemption and take a competency exam under the ICB specification.
The exemption fee of £100 includes the application itself, access to the mock competency exam and the live competency exam fee.
Please note: If taking this course via the exemption route, there will also be an additional fee of £30 to pay for student registration and membership (usually £80).
To apply for exemption please contact us, and we’ll be happy to help.
Approximately 60-80 hours average active study time.
The Level 4 Certificate in Self-Assessment Taxation is made up of six topics:
- Underpinning Knowledge
- Entering Details of Personal Income onto a Self-Assessment Return
- Entering Details of Business Income and Expenditure for Unincorporated Businesses onto the Relevant Returns
- Chargeable Gains
- Calculate Tax and National Insurance Contributions due and File Returns
- Foreign Income and Residence Basis
The learning outcomes for each topic are listed below:
Topic 1 – Underpinning Knowledge
1.1 Duties and Responsibilities of the Bookkeeper / Tax Agent
1.2 Explain what is meant by the terms: Income Tax, Capital Gains Tax
1.3 Explain the principles of taxation appropriate to individuals, Sole Traders and Partnerships
1.4 Identify the main sources of Income and reliefs for an individual
1.5 Identify the types of returns that may be completed
1.6 Identify sources of assistance
Topic 2 – Entering Details of Personal Income onto a Self-Assessment Return
2.1 Identify the main sources of personal income
2.2 Identify the various types of tax reliefs that can be claimed
2.3 Identify the elements of Employment Income and allowable expenses, and complete the relevant pages
2.4 Explain the types of Income from property and allowable expenditure and complete the relevant pages
Topic 3 – Entering Details of Business Income and Expenditure for Unincorporated Businesses onto the Relevant Returns
3.1 Identify the returns that need to be completed by sole traders and partners
3.2 Explain the principle of basis periods applicable to sole traders and partnerships
3.3 Explain the purpose of, and determine, adjusted trading profits for sole traders and partnerships
3.4 Explain the purpose of Capital Allowances (Equipment, Motor Vehicles and Other)
3.5 Identify trading losses for individuals and partnerships
3.6 Complete the partnership return and the relevant section of the self-assessment return
3.7 Complete the relevant sections of the self-assessment return
3.8 Explain the purpose of Simpler Income Tax for the Simplest Small Business and complete the Self-Assessment Return
Topic 4 – Chargeable Gains
4.1 Explain the elements of capital gains tax
4.2 Apply relief’s deferrals and exemptions
4.3 Explain the treatment of gains and losses
Topic 5 – Calculate Tax and National Insurance Contributions due and File Returns
5.1 Determine taxable income and tax payable
5.2 Identify NI Contributions payable
5.3 Explain the procedure for payment and administration
Topic 6 – Foreign Income and Residence Basis
6.1 Explain how to treat foreign income
6.2 Explain the criteria for residence and remittance
The testing of knowledge and skills for the qualification will comprise one online assessment, taken in the candidate’s home or place of work.
The assessment will be available to complete for a period of 24 hours. The exam will consist of a series of tasks, some of which will involve entering amounts into screens that closely replicate screens from an on-line self-assessment return. Other tasks involve calculations that demonstrate an understanding of the nature of the calculation of tax, National Insurance Contributions, Capital Allowances, Capital Gains Tax and adjusted net profit.
We will pay for the cost of your exam (up to the value of £85.00) with this package. The cost of exams can increase at the discretion of the awarding body (ICB). We will pay for all exam fees up to the agreed value at the time of purchase, but any increase in exam fees will need to be paid for by the student.
This assessment is a home or work place based assessment and will be graded as follows:
Distinction 95 -100%
Merit 90 – 94%
Pass 85 – 89%
Fail 0 – 84%
The cost of exams can increase at the discretion of the awarding body (ICB). We will pay for all exam fees up to the agreed value at the time of purchase, but any increase in exam fees will need to be paid for by the student.
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