Basic Tax and NIC

*Full day workshop (Ref: PNB08w) :: Price £397 + VAT** (Book Online £377* + VAT) Date and Venues > *Since 1st Jan 08 this course held in Central London is £447 + VAT, online price will be £427 + VAT.
Delegates limited to 12

Workshop Aims

Gross-to-net calculations with confidence

The aim of this practical one-day workshop is to enable each delegate to understand the requirements of the UK tax and NICs system, to be competent in completing a manual payroll calculation from gross pay to net pay and confident to produce a payslip.

Essential skill for payroll

The ability to calculate a payroll manually is an essential skill for everyone working in payroll, not simply to understand what the computer is actually doing, but it is necessary at times to estimate an employee's net pay in advance, or pay a mid-period leaver, or explain to employees what the various entries on their payslip means. There is also a statutory requirement to check the figures shown on a new employee's P45.

Step-by-step approach

This workshop uses an easy, step-by-step approach, ensuring that each delegate learns by example and practice how to use the various tax and NICs tables, how to complete the different forms for employees who are starting or leaving employment, and how to handle the regular payments and deductions required.

Those who would benefit the most

None or little experience

This workshop has been designed to meet the needs of those with little or no experience of current UK payroll practice. They may be completely new to payroll or returning to payroll after a couple of years break.

Computer experience, but not manual

They may have experience using a computerised payroll but little manual experience, or they may simply provide absence cover.

HR and finance staff

It will also be of value to accounts and personnel/HR staff who have some responsibility for the payroll operation.

Workshop Conclusion

Questions encouraged

Questions are encouraged throughout the day and the tutor will endeavour to help each delegate so that, by the end of the day, delegates will have received a practical overview of the UK tax and NICs system and will be confident to calculate tax and NICs manually.

What each delegate will receive:

• Tutor-led easy-to-follow practical training
• Valuable comprehensive workshop reference manual
• Unique handouts and exercises
• Professional CPD certificate of participation and attendance
• Refreshments and lunch

After the workshop:

• Free telephone helpline
• Free email newsletter
• Free web access to payroll tools and Resources

Workshop Programme

How the UK Tax and NIC system works
• What PAYE is, understanding the key dates in the tax year, paying the Collector of Taxes, the rates of tax and NICs, personal allowances, tax and NIC thresholds and the importance of NI numbers

Gross Pay
• What gross pay is, how it is calculated, what additions to pay there might be, what deductions from pay are allowed, what parts of pay are subject to tax and/or NICs, what elements of pay are treated differently for tax and NICs

Pay and Earnings Periods
• The effect on tax and NICs when employees are paid weekly, fortnightly, four-weekly and monthly and how to use the tax calendar correctly

Tax Codes
• What a tax code is, how it is calculated, how it is used, the difference between a cumulative and non-cumulative basis, what week1/month1 means and how the Inland Revenue notifies code changes

Tax Tables
• How to use Pay Adjustment tables, how to use Taxable Pay tables

NIC Table Letters
• What is an NIC Table letter, how the correct letter depends on personal circumstances and pension scheme membership and how it is used

NICs Tables
• How to use the three main NICs tables to calculate NICs and how to select the right table

New employees
• The importance of forms P45, P46 and P38S in setting up new employees, what needs to be checked on the P45 and how to complete these forms
• Complying with the Assylum & Immigration Act

Leavers
• The forms that need to be completed

Calculations
• Step-by-step calculations with examples and exercises, preparation of a manual payroll with tutor assistance

The payslip
• The makeup of a payslip, what has to be entered in order to meet legal requirements

Highly recommended as an In-house course.

Continuing Professional Development

Part of the Payroll Technician course which can lead to a professional payroll qualification.