Understanding UK Personal Finance and Tax

Course details

Have you ever looked at your payslip and wondered what National Insurance is, why so much money has gone to your pension, or how your income tax is actually calculated? Maybe you have savings or an inheritance that you want to invest, or maybe you're claiming expenses and don't know what can and can’t be claimed? In this course, join instructor Naeem Anwar, a chartered accountant with more than 20 years of experience, as he provides a comprehensive, no-nonsense guide to financial literacy specifically focused on the UK.

Explore all the financial terms and taxes that you need to know about to remain compliant as an individual. Naeem covers value-added tax (VAT), National Insurance, income tax, pension contributions, individual savings accounts (ISAs), self-employed tax and self-assessments, capital gains, stamp duty, and more, presenting the fundamentals in terms you can easily understand, so you’ll never again look at your paycheck and scratch your head.

Concepts

0. Introduction

01 - Personal tax in the UK
02 - Who pays personal tax in the UK

1. Understanding Your Payslip

03 - Tax on wages and salaries
04 - What is income tax and how does it work
05 - Calculating income tax
06 - What is national insurance
07 - How much national insurance do employees pay
08 - What are benefits in kind and how are they taxed
09 - Are pensions taxable

2. Self-Employed and Self-Assessments

10 - Tax for self-employed people
11 - Tax for sole trader businesses
12 - Tax for partnerships
13 - National insurance for self-employed people
14 - What can be claimed as business expenses
15 - Tax breaks for businesses that make losses
16 - Additional income streams and side hustle tax
17 - Self-assessment tax returns

3. Consumer and Resident Taxes

18 - What is capital gains tax
19 - Capital gains tax relief
20 - Who pays inheritance tax
21 - The seven-year rule and inheritance tax planning
22 - How does VAT work
23 - How much stamp duty will you have to pay
24 - How is the amount of council tax you pay decided
25 - How much vehicle excise duty (VED) will you have to pay

4. Also Worth Knowing

26 - What can employees claim as expenses
27 - How do simplified expenses work
28 - Receiving a state pension if you didn t pay national insurance
29 - What are the tax benefits of putting money into an ISA
30 - Residency and domicile rules for UK personal tax
31 - How do you find out more about UK personal taxes

Conclusion

32 - Keeping up to date with UK personal tax

Understanding UK Personal Finance and Tax

Authors

CRFT Productions

Naeem Anwar