I did the self assessment diploma about six months ago.
Basically you are left to your own devices, when it comes to study. The best thing to do, is get hold of the current Self Assessment Tax Return Guide (6 April 2009 to 5 April 2010) from HMRC (ICB did have some copies when I did mine (06 Apr 2008- 05 Apr 2009 guide)) but they were in short supply. The book is about 35mm thick and is a collection of the different pages of a self assessment form (full and short plus the other types) with instruction on how to complete the forms. The book also lists the various help sheets, which can be down loaded online in pdf format.
What I did, was to go through the guide (it cures insomnia) until I thought I understood what was required and then ordered the assignment. The guide is the bible to completing the assignment, as most of the answers are in it somewhere but you will need to use the HMRC website a lot too, for help sheets and other info.
The assignment follows the standard format insomuch as it is scenario based, giving an individuals income from employment and other sources. The idea is to complete their tax return.
I didn't find it too difficult but they do throw in a few quirky bits (I found it harder to decypher what they meant in some of the phrasing of the scenario, than the actual completion of the form etc). The really scary bit is, you have to achieve 100% and will spend the few weeks after returning the assignment wondering what you didn't get right! Until you get your result.
Thanks. I have the books, from when SA was first introduced! So the exam is based on 2009-2010 legislation then? And you have to get 100%!!
I always find the ICB exams a nightmare to understand what they want, but took your advice on sending in a sheet explaining how I have interpreted their question, and so far it seems to have worked!
The assignment I was sent was based on the tax year that was due, so I expect they tailor the assignment to suit current legislation.
Afraid so, you do have to achieve a 100% result to pass. Like I said, I struggled with phrasing of the scenario and even contacted ICB for a defintion of what was meant but they wouldn't oblige, so I took the phrasing literally.
I didn't mention before but I believe the guide is free from HMRC. I got mine through ICB and paid £6.50 for P&P but I'm not sure if they are going to make anymore available.
I've just sat this exam, as Bill suggest it is based on the Self Assessment Tax Return Guide (which I got from the tax office for free). As always with their exams you seem to have to make a number of assumptions which is pretty scary because of the 100% pass mark, however they do return the form to you with markers comments so you can amend it then return it for remarking with an additional fee of £15. It is pretty straight forward to complete other than the assumptions - I put the assumptions in my client letter hoping that this is what the examiner wants.
Is it 2009-2010 or 2008-2009, as the year to April 2010 has not yet finished? I looked last night for my bible but do not seem to have one yet and looking at last year, they were produced in December......
Just checked my results on ICB website and I passed. Phewwww!
Now I need to start on the Payroll Management, going to try to complete without a course and see how I get on after completing the Sage training pack. How did get ready for the exam did you complete a course?