hi everyone could anybody help me? what books should i buy to fully explain the tax return with working examples of all tax forms including property pages. How do you combine profit from supplementary pages to the self employment pages or don't you ie keep them seperate.
Are you intending completing self assessment forms for clients (or just your own), if clients if you are a member of the Institute of Certified bookkeepers (not sure if IAB are the same) but you must have the qualification Self Assessment that ICB to be able to offer self assessment form service to clients. If you are not member of institutes and you intend offering self assessment services and you need to learn how to do this from a book, I would advise not to, if you are not experienced in these you may make mistakes and a client may sue you for any errors in their tax. There is no reason why you cannot complete books up to trial balance then hand it over to an accountant to complete tax return.
If it is just your own self assessment form then I am sure Inland Revenue offer free 1/2 day courses about things like this (I went to a Limited Company course end of last year) and I am sure there is a course for the self employed which includes how to complete your tax return.
Thanks Alison I am just doing my own at the moment but thinking of expanding when I've got a bit of expience. I am with the ICB doing the assessment diploma but trying to tackle my own problems first and save money on an accountant. Its mainly what books you could recommend. But I will check with the tax office.
HMRC website actually is really useful for it's notes regarding the self assessment tax return. If you look on there, you will actually see that they break down each part, ie, the property section, the self employment section, etc, etc. The notes are actually quite detailed too.
Until you mentioned this I didn't realise the ICB had this examination. Have you taken it?
The HMRC courses ypu mentioned I have found are very good, whilst I am not busy with clients work at the moment I have got myself signed up to a lot of them to refresh my knowledge.
HII COLLEGUES COULD ANY OF YOU HELP ME HOW TO COMPLETE THE PAYE NICS P11 WHEN CLIENTS EARNINGS IS BELOW THE EARNINGS THRESHOLD. EXAMPLE IF CLIENTS ANNUAL EARNINGS IS £5850 FOR THE PERIOD BETWEEN 06/03/08- 05/03/09. INEED THIS TO COMPLETE P14 & P35. THANKS
I have done the ICB's self assessment exam. It's not that bad (if you've had experience in self assessments before I would say). It is good as it covers quite alot -ie, in mine it had an axample of someone who was part time employed, was self employed, was in receipt of a pension, had bank interest received, had dividends received and had property income ! It's only £35 to do the exam so I would give it a go if I were you. I dont believe you can offer self assessments to clients if you are an ICB member without having done this qualification, and as I have mentioned above, the notes for the self assessments on the HMRC website I think are quite good.
Thanks for the info. I have had a look at the notes and they seem pretty thorough, I have also got myself booked on one of the HMRC one day training courses for this as well. So i will look to sit it after I have done the course.
Found this thread interesting as I too didn't realise the ICB had a Self Assessment exam. Like a lot of you I am just starting out and while I'm quiet want to get a couple more exams out of the way. However checking the ICB site they don't seem to have a past paper or anywhere that supplies the course through home study for this one. Can anyone offer any help on this.
Does anyone out there have a past paper I could have a copy of - would be willing to pay for it.
Hi to every one. Just signed up to this forum and has already helped me answer a lot of questions. It seems we all have the same ones when we start out.
I have just completed (and passed) the ICB Self Assessment qualification, which is set as an assignment with only a pass or a fail at 100% (suppose we can't afford to make mistakes on this subject).
Anyway back to the subject, if you contact the ICB they have a limited number of official HMRC SA Tax Returns Guides 2009 which is the basis of the assignment at a cost of £6 to cover postage. (They may be available from HMRC too?)
Hope this helps
Bill Roberts MICB CB Dip
-- Edited by Wella on Tuesday 14th of July 2009 04:21:00 PM
