This course aims to help you to understand tax systems in the UK. It starts with explanations of the different types of tax and revenue sources. You will discover the history of tax how it has evolved over thousands of years how tax impacts the economy and the seriousness of tax evasion and avoidance. Next you will look at VAT and its function within a business taxable supplies the rates involved in VAT and the different inputs and outputs when accounting for VAT.The course will also cover the different types of national insurance contributions and the different payments that employed self-employed and people who are both employed and self-employed may need to pay. You will comprehend various tax codes and allowances that are applicable. In addition you will explore what a self-assessment tax return is who needs to submit one and how. You will also review important dates and deadlines for self-assessment.The following section will discover the PAYE system and how HMRC can collect tax and national insurance from employees and businesses. We will discuss tax codes their calculation and important dates for reports payslips and payments. Inheritance income individuals capital gain and corporation tax will be explained in detail. The final section will help you understand the different aspects of accounting and financing in business.