Level 3 Self-Assessment Tax Returns *Including £65.00 Exam Fee*

The ICB Level 3 Self-Assessment Tax Returns course is designed for those wishing to complete returns for Individuals and Businesses but not Limited Companies.

**This course is available to anyone qualified to Level 3 and above. More information is available in the “Details” tab**

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.

Payment Plans

Finance available – provided by divido

£31.00 deposit

  • 12 monthly payments (Interest Free) of £22.00

For alternative payment plans, please Contact Us

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ICB Diploma – Level 3 Self-Assessment Tax Returns

Completely up to date 2017/2018 Tax Year

Exam Fee up to the value of £65.00 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

Prerequisites

You need to be qualified to Level 3 or above to take the Diploma 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.

Duration

Approximately 40-50 hours average active study time.

This module comprises both Personal and Business Taxation and relates to preparing tax computations and returns for businesses (sole trader) and individuals.

Element (1) Prepare Business Taxation Computations

(A) Prepare capital allowance computations.

(B) Adjust accounting profits and losses for trades and professions.

Learning Outcomes: (A)

  • Computations are made in accordance to current tax law and practice
  • Expenditure on Capital Assets is classified in accordance with the statutory distinction between Capital and Revenue
  • Make adjustments for private use by business owners
  • Entries and calculations relating to such computations are correct

Range:

  • First Year Allowance (FYA), Writing Down Allowance (WDA), Annual Investment Allowance (AIA)
  • Capital Expenditure on plant and machinery, and motor vehicles

Learning Outcomes: (B)

  • Adjusted profit is calculated for inclusion on the tax return
  • Make necessary adjustments for private use by business owners
  • The bases of assessment are correctly applied
  • Complete accurately the supplementary pages on the tax return for a sole trader
  • Identify NI contributions payable by self employed
  • Returns are submitted to HMRC within the required timescale
  • Identify due dates for payment of Income Tax
  • Professional advice is given to clients on the recording of information for the tax return and confidentiality is maintained at all times

Element (2) Prepare Personal Taxation Computations

(A) Calculate income from employment

(B) Prepare Computations of Property and Investment Income

Learning Outcomes (A)

  • Computations of earnings including benefits in kind, allowable expenses are accurately prepared
  • Returns are completed accurately and submitted to HMRC on a timely basis
  • Professional advice is given to clients on the recording of information for the tax return and confidentiality is maintained at all times

Range:

  • Emoluments: UK resident employees
  • Allowable expenses, contributions to pension schemes and charitable contributions

Learning Outcomes (B)

  • Schedules of dividends and interest received on shares and securities are accurately prepared
  • Schedules of property income are accurately prepared, profits and losses determined and appropriate relief applied
  • Returns are submitted to HMRC on a timely basis

Range:

  • Sources of investment income from banks, building societies and property income, holiday lets and wear and tear

The elements in this module and learning outcomes are partly based on the former AOSG national standards for Personal and Business Tax.

Elements of CGT (Capital Gains Tax) to include:

  • Annual exemption
  • Allowable expenses
  • Exempt assets
  • Chattels
  • Private residence relief
  • Part disposals

Course Includes:

  • Workbook
  • Activities
  • Assessments
  • Online Mock Exam
  • Fast Track support
  • Exam fee

Units: 

  • Introduction
  • Employment Income
  • Benefits in Kind
  • The Employment Supplementary Pages
  • Property Income
  • The Calculation of Tax
  • Private Pension Payments and Gift Aid
  • The Submission of Returns
  • The Duties and Responsibilities of a Bookkeeper
  • Capital Gains Tax
  • Adjusting the Profit and Losses
  • Capital Allowances
  • Basis Periods
  • National Insurance for Self-Employed
  • The Self-Employed supplementary pages
  • Partnership Tax

Home based on-line examination.

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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