Im currently on the look out for the ICB's payroll course material(or content that will help me pass this exam) and also the SA material, secondhand would be best as im trying to keep costs down, if anyone is willing to sell please email me at staceycort@hotmail.co.uk with what you have and how much you are looking for
Unlike the bookkeeping modules, Payroll and Self assessment change each year in line with the budget and changes in legislation and HMRC guidelines therefore out of date material can prove pretty useless.
The Self assessment manual is available online on the HMRC website.
For Payroll, unless someone is selling the latest versions then it may be more cost effective for you to buy new or you may find your studies counter productive.
Again, for payroll you will find a lot of useful information on the HMRC site.
good luck with your studies,
kind regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
If you're not using the current legislation then the exam is not preparing you to offer this as a service to the public which surely is the whole reasoning behind the ICB Payroll and Self assessment papers.
And if people have learnt under the previous years rules then finding that everything that they have memorised is now useless is surely just preparing them for what it's like in the real world.
Think that we need input from James on this one!
P.S. Just taking a short lunch break from studies so my responses to your replies may be a little slow today.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
The ICB allow you to use the previous years tax tables for a short time. This is to help those with software that comes with specific tax tables. However, if you have software more than 1 year old you would need to update your software to current tax tables.
If there a change in law, rather than just tax rates, the ICB remove this allowance. For example, Paternity Pay, you would need current software.
There are talks on making Payroll and Self Assessment tax annual examinations, as I feel the same way as Shaun. I don't think it will be a full examination, probably just on the tax changes and law changes etc.
what about making that a compulsory part of CPD for ICB bookkeepers in practice who offer those services?
I would suggest however that such should be an online examination rather than peope having to attend examination centres.
Also the test fee's for those should be covered by the practice licence. Maybe tieing the annual renewal of the practice licence to passing short online tests on self assessment and Payroll?
Think that I just put myself fowards for crucifiction by the other people on the site so I'm off to hide in my books until the lynch mob stops looking for me!
talk later,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
There are talks on making Payroll and Self Assessment tax annual examinations, as I feel the same way as Shaun. I don't think it will be a full examination, probably just on the tax changes and law changes etc.
I can't see it being any other way. What worth is a Diploma in Self Assessment Tax Returns passed three or four years earlier given the way things change. Like AIA going up then coming back down.
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Never buy black socks from a normal shop. They shaft you every time.
I'm taking "I can't see it being any other way" as meaning that there isn't now a lynch mob hunting me down... Phew. Just the ex wives carrying burning torches and pitchforkes that I have to watch out for then!
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
There are talks on making Payroll and Self Assessment tax annual examinations, as I feel the same way as Shaun. I don't think it will be a full examination, probably just on the tax changes and law changes etc.
I can't see it being any other way. What worth is a Diploma in Self Assessment Tax Returns passed three or four years earlier given the way things change. Like AIA going up then coming back down.
I think that is a good idea especially for SA. When I did my payroll I was asked what year I wanted, think I did 08/09 and thought at the time this is useless its out of date.
what about making that a compulsory part of CPD for ICB bookkeepers in practice who offer those services?
Seems a sensible approach to me.
James, if the ICB introduce annual exams for SA and Payroll, will they be producing an updated textbook with the changes or will members be expected to learn the entire courses each year?
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Tony
Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
Most likely produce an update book, which I think they are doing anyway for SA to save people buying the whole thing.
Having said that, I am not sure what the difference would be in cost just to produce and print the updates, so it might not be worth it. I guess it would be easier to read though.
I like the way you think Shaun, not sure we could add it to the cost of the Practice License as some people might want to do the tests with other bodies (we have quite a few members with ATT for example) and so it would be unfair to charge them for the tests.
