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Key details

Course area
Business and Accounts
Student type
Courses for 19+ students
Course type
Part-time Further Education course
Course level
Entry Level

Course introduction

It is no longer possible to apply/enrol for this course as there are no course dates available. Please check back later as we may be offering it again in the future.

Business Tax course covers essential areas of UK tax principles, focusing on practical applications for sole traders, partnerships, and limited companies.

You will learn to prepare tax computations by adjusting accounting profits, calculating capital allowances, and determining National Insurance Contributions (NICs) for the self-employed.

The course also addresses tax computations for limited companies, including corporation tax calculations and taxable profits from trading, investments, and asset disposals.

Additionally, you will explore the administrative requirements for filing and compliance, including penalties and interest for late filings or payments. You will examine the tax implications of business disposals, with specific attention to capital gains tax and related reliefs.

Finally, you will gain insights into effective tax planning strategies, including the utilisation of trading losses, badges of trade for tax compliance, and ethical guidelines to distinguish between tax planning, avoidance, and evasion.

This curriculum will equip you with both theoretical knowledge and practical skills needed for business tax management and compliance.

Learning Outcomes:

  • Prepare tax computations for sole traders and partnerships
  • Prepare tax computations for limited companies
  • Prepare tax computations for the sale of capital assets by limited companies
  • Understand administrative requirements of the UK’s tax regime
  • Understand the tax implications of business disposals
  • Understand tax reliefs, tax planning opportunities and agent’s responsibilities in reporting taxation to HM Revenue & Customs

Course information

College Certificate

There are no formal entry requirements but you must be aged 19+.

Careers related to this course

Financial and Accounting Technicians

Potential Earnings

£83,340.44

Average Earnings

£41,510.94

Source: Office for National Statistics' Annual Survey of Hours and Earnings (ASHE).

Pathways

Accounting and Finance

People in these occupations prepare and record accounts of financial dealings within businesses and provide financial analysis, banking, credit, and investment services.

Skills

Critical Thinking

Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Active Learning

Understanding the implications of new information for both current and future problem-solving and decision-making.

Active Listening

Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Mathematics

Using mathematics to solve problems.

Reading Comprehension

Understanding written sentences and paragraphs in work related documents.
View more about this career

Economic data for careers is provided by Lightcast and also available through our Career Coach app. Job postings, employment and earnings information is represented at the regional level for the East Midlands.

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Access to Higher Education: Business (19+) - Full-time