Level 4 Self Assessment Tax Returns

Self Study

Unit DurationDuration: 60-80 Hours

Unit LevelLevel: 4

Number of ExamsExams: 1

Institute of Certified Bookkeepers

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.

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.

The Level 4 Certificate in Self-Assessment Taxation is made up of six topics:

  1. Underpinning Knowledge
  2. Entering Details of Personal Income onto a Self-Assessment Return
  3. Entering Details of Business Income and Expenditure for Unincorporated Businesses onto the Relevant Returns
  4. Chargeable Gains
  5. Calculate Tax and National Insurance Contributions due and File Returns
  6. Foreign Income and Residence Basis

The learning outcomes for each topic are listed below:

Topic 1 – Underpinning Knowledge

Learning Outcomes:
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

Learning Outcome:
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

Learning Outcome:
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

Learning Outcome:
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

Learning Outcome:
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

Learning Outcome:
6.1 Explain how to treat foreign income
6.2 Explain the criteria for residence and remittance

Further details on the learning outcomes, assessment criteria, grading, and more can be found by accessing the ICB’s Level 4 Certificate in Self-Assessment Tax Returns Syllabus

If you want to sit the exam, then you will need to be an ICB and hold a current, valid ICB Level 3 qualification.

Basic numerical skills and a good understanding of the English language would also be helpful.

Training Link focuses on only three subjects: Accounting, Bookkeeping, and Payroll.

This keeps us focused on delivering the best student experience. And that’s why over the last 27 years we’ve won over 20 awards – from AAT’S Best New Training Provider in 2018 to ICB’s Large Training Provider of the Year for ten years in a row.

Training Link has written and created all of the study material for our ICB courses.

And because we control this material, we can improve it based on student feedback and results. This is what helps Training Link students achieve outstanding pass rates.

The course fee includes:

  • Printed workbooks containing lessons, examples, tasks and assignments
  • Activity answer book
  • 24/7 access to our online portal
  • Materials available online
  • Online course assessments
  • Online mock exam
  • Free postage and packaging within the UK

The Institute of Certified Bookkeepers was established in 1996. They promote the bookkeeping profession, learning and education, and offer qualifications.

The ICB is the largest bookkeeping membership organisation in the world. There are over 150,000 students and members in over 100 countries.

ICB’s certification is based on exams and only the finest professionals are eligible for membership. Members need to maintain their status via Continuous Professional Development.

ICB’s rigorous standards give businesses the confidence that an ICB-certified Bookkeeper will have the highest standards. And that’s why it is a perfect pathway for anyone who wants to become a self-employed bookkeeper.

If you choose to sit the exam at the end of this unit, you would be required to be registered with the ICB first. You would also need to be qualified to Level 3. You would then contact the ICB to book your exam.

You can take the exam from home or work, and comprises one 24-hour exam. You will have 2 weeks to access your exam. Once activated you will have 24 hours to complete it.

Tutor support is often overlooked, and whilst it might not be needed at all times, isn’t it good to know that if push comes to shove, you have access to tutor support – Even on a self-study option?

Purchase tutor support when you need it – For one month…or longer, the choice is entirely yours!

You don’t need to decide now. See how you get on, and if you decide that a little support is needed, simply come back here and click the following link…

Self-study book