Starting a New Business and Self-Assessment
Level: Beginner, Foundation
Build the Essential Skills to Start Your Business
Understand Tax, Allowable Expenses & VAT
Learn Record Keeping, Accounts & Cashflow Basics
Complete Your Self Assessment with Confidence
Welsh Government Funding Accepted
Course Overview
Duration:
3 hours (10am-1pm)
Accredited:
No
Exams:
N/A
Funding:
ReAct
Type:
Classroom, Onsite, Virtual
Company group booking discount available
Course Overview
Duration:
3 hours (10am-1pm)
Accredited:
No
Exams:
N/A
Funding:
ReAct
Type:
Classroom, Onsite, Virtual
Company group booking discount available
Starting a business can be both exciting and challenging. This practical course helps aspiring business owners and self-employed professionals build the knowledge and skills needed to establish and manage a successful business. The course provides a clear introduction to business start-up essentials, covering financial planning, record-keeping, taxation and legal responsibilities. Learners will gain a practical understanding of how to manage business finances, maintain accurate records and meet HMRC requirements, helping them build a strong foundation for long-term success. Using real-world scenarios and practical exercises, delegates will learn how to track income and expenditure, forecast cash flow and complete self-assessment tax returns with confidence. By the end of the course, learners will have the tools and knowledge needed to manage the financial aspects of running a business effectively.
Target Audience
- Individuals planning to start their own business
- Newly self-employed professionals and sole traders
- Small business owners seeking to improve their financial management skills
- Individuals responsible for maintaining business records and accounts
- Anyone wanting to understand self-assessment, tax responsibilities and cash flow management
By the End of This Course, You Will Be Able To:
- Understand the key steps involved in starting and establishing a new business
- Maintain accurate business records using Microsoft Excel
- Track and calculate income and expenditure on a weekly, monthly and annual basis
- Create and maintain year-end financial records
- Identify allowable business expenses and understand their impact on tax liabilities
- Understand VAT registration thresholds and the implications for a business
- Create, maintain and monitor cash flow forecasts
- Understand key financial responsibilities associated with running a business
- Complete a self-assessment tax return online with confidence
- Apply sound financial management practices to support business growth and sustainability
Starting a business can be both exciting and challenging. This practical course helps aspiring business owners and self-employed professionals build the knowledge and skills needed to establish and manage a successful business. The course provides a clear introduction to business start-up essentials, covering financial planning, record-keeping, taxation and legal responsibilities. Learners will gain a practical understanding of how to manage business finances, maintain accurate records and meet HMRC requirements, helping them build a strong foundation for long-term success. Using real-world scenarios and practical exercises, delegates will learn how to track income and expenditure, forecast cash flow and complete self-assessment tax returns with confidence. By the end of the course, learners will have the tools and knowledge needed to manage the financial aspects of running a business effectively.
Target Audience
- Individuals planning to start their own business
- Newly self-employed professionals and sole traders
- Small business owners seeking to improve their financial management skills
- Individuals responsible for maintaining business records and accounts
- Anyone wanting to understand self-assessment, tax responsibilities and cash flow management
By the End of This Course, You Will Be Able To:
- Understand the key steps involved in starting and establishing a new business
- Maintain accurate business records using Microsoft Excel
- Track and calculate income and expenditure on a weekly, monthly and annual basis
- Create and maintain year-end financial records
- Identify allowable business expenses and understand their impact on tax liabilities
- Understand VAT registration thresholds and the implications for a business
- Create, maintain and monitor cash flow forecasts
- Understand key financial responsibilities associated with running a business
- Complete a self-assessment tax return online with confidence
- Apply sound financial management practices to support business growth and sustainability
Starting a New Business and Self-Assessment
- Starting a New Business
- How to keep records – Excel Spreadsheet to calculate Income and Expenditure on a weekly/monthly basis, creating a set of accounts for the year
- What Expenses can be legally claimed and offset against Tax
- Understanding the VAT Threshold
- Creating a Cashflow
- Completing a Self-Assessment online
Starting a New Business and Self-Assessment
- Starting a New Business
- How to keep records – Excel Spreadsheet to calculate Income and Expenditure on a weekly/monthly basis, creating a set of accounts for the year
- What Expenses can be legally claimed and offset against Tax
- Understanding the VAT Threshold
- Creating a Cashflow
- Completing a Self-Assessment online
This course has no formal examination or assessment. Instead, learners will develop and demonstrate their understanding through a series of practical exercises, discussions and real-world business scenarios completed throughout the training. These activities reinforce learning and give delegates hands-on experience in key areas such as business start-up planning, financial record-keeping, cash flow forecasting, allowable business expenses, VAT considerations, and completing self-assessment tax returns. By applying the concepts covered during the course to practical examples, learners will gain the confidence and skills needed to manage the financial aspects of running a business effectively.
This course has no formal examination or assessment. Instead, learners will develop and demonstrate their understanding through a series of practical exercises, discussions and real-world business scenarios completed throughout the training. These activities reinforce learning and give delegates hands-on experience in key areas such as business start-up planning, financial record-keeping, cash flow forecasting, allowable business expenses, VAT considerations, and completing self-assessment tax returns. By applying the concepts covered during the course to practical examples, learners will gain the confidence and skills needed to manage the financial aspects of running a business effectively.
- Training from NILC’s experienced trainers
- Course presentation slides
- Smart recording and summary from the training day (virtual-live courses only)
- Course completion certificate
- Training from NILC’s experienced trainers
- Course presentation slides
- Smart recording and summary from the training day (virtual-live courses only)
- Course completion certificate
This course has no formal prerequisites. The course is suitable for individuals considering self-employment, those starting a new business and existing business owners who want to improve their understanding of business finances and taxation. Basic computer skills and familiarity with Microsoft Excel would be beneficial but are not essential.
This course has no formal prerequisites. The course is suitable for individuals considering self-employment, those starting a new business and existing business owners who want to improve their understanding of business finances and taxation. Basic computer skills and familiarity with Microsoft Excel would be beneficial but are not essential.
Who is the Starting a New Business and Self-Assessment course suitable for?
The course is ideal for anyone starting a new business, becoming self-employed, or already running a small business who wants to understand their financial and tax responsibilities better.
Do I need any previous accounting or business experience?
No. The course explains the essential financial aspects of running a small business in an accessible way. You do not need previous accounting, bookkeeping or business qualifications to attend.
What will I learn on the course?
You will learn about the key financial considerations when starting a business, including keeping accurate records, monitoring income and expenditure, understanding allowable expenses, VAT, cash-flow forecasting and completing a Self Assessment tax return.
Who is the Starting a New Business and Self-Assessment course suitable for?
The course is ideal for anyone starting a new business, becoming self-employed, or already running a small business who wants to understand their financial and tax responsibilities better.
Do I need any previous accounting or business experience?
No. The course explains the essential financial aspects of running a small business in an accessible way. You do not need previous accounting, bookkeeping or business qualifications to attend.
What will I learn on the course?
You will learn about the key financial considerations when starting a business, including keeping accurate records, monitoring income and expenditure, understanding allowable expenses, VAT, cash-flow forecasting and completing a Self Assessment tax return.
Dates & Prices
Upcoming Courses
No upcoming dates available.
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How we deliver our courses
Virtual
Our virtual courses allow you to access live instructor-led training from the same expert instructors that deliver our classroom courses, without leaving the comfort of your home or office. All virtual courses are fully interactive, and learners can communicate with their trainer and peers at any time.
Many of our virtual courses are also recorded, so you can recap over the content you learnt as many time as you wish.
Classroom
Our classroom courses allow you to learn and interact face-to-face with our expert instructors in a comfortable and modern training environment. All of our classroom based courses take place at NILC centers, or high quality training facilities, and include all required IT and physical equipment.
We also limit our class sizes to help promote better discussions and to ensure your learning experience is comfortable as possible.
Onsite
Save time and hassle by arranging for one of our expert instructors to come to you. Our onsite courses allow you to learn in a location of your choosing, and you can train as many or as few people as you want – from a single person or team to whole departments. We can also fully customize the course content to the specific requirements of your business or project.
We offer onsite courses throughout the UK and it can be a great team building opportunity for colleagues to come together, bond and discuss.
Online
Our Online Self Paced courses allow you to learn new skills from our expert instructors, in your own time and at your own pace. Our flexible online learning platform allows you to access content on your computer, tablet or mobile device, whether you’re on the move or at home. All our online courses come with immediate access and you can start learning straight away, from any internet enabled compatible device.
We also offer online email support from our expert instructors, so they’re always on hand and happy to help you with any questions which may arise.
Why choose NILC for your training?
Award-Winning Training with Industry-Leading Customer Satisfaction
Trusted Training Partner by Colleges, Government Organisations and Businesses
UK-Based Trainers with Real-World Industry Experience
Family-Run Business with Customer Service at Its Core
Rated Excellent on Trustpilot with 950+ Customer Reviews
Our learners rate us 'Excellent' on Trustpilot
Frequently Asked Questions
The course is ideal for anyone starting a new business, becoming self-employed, or already running a small business who wants to understand their financial and tax responsibilities better.
No. The course explains the essential financial aspects of running a small business in an accessible way. You do not need previous accounting, bookkeeping or business qualifications to attend.
You will learn about the key financial considerations when starting a business, including keeping accurate records, monitoring income and expenditure, understanding allowable expenses, VAT, cash-flow forecasting and completing a Self Assessment tax return.
Yes. The course covers how to maintain records of your business income and expenditure, including using an Excel spreadsheet to keep weekly or monthly records and to create a set of accounts for the year.
Yes. You will learn about the types of business expenses you can potentially claim and offset against your taxable profits, helping you better understand how expenses affect your Self Assessment.
Yes. The course introduces the VAT registration threshold and explains the implications VAT can have for your business, helping you understand when VAT may become relevant as your business grows.
Will I learn how to create a cash-flow forecast?
Yes. Completing a Self Assessment online is a key part of the course. You will be guided through the process and develop a better understanding of the information you need when completing your return.
No. There is no formal examination or assessment. Your understanding will be reinforced through informal exercises during the course, and you will receive a course completion certificate after attending.
Yes. Your trainer will do their best to answer relevant questions and explain how the topics covered could apply to your business. Where possible, examples and advice can be tailored to your business sector and circumstances.
Frequently Asked Questions
The course is ideal for anyone starting a new business, becoming self-employed, or already running a small business who wants to understand their financial and tax responsibilities better.
No. The course explains the essential financial aspects of running a small business in an accessible way. You do not need previous accounting, bookkeeping or business qualifications to attend.
You will learn about the key financial considerations when starting a business, including keeping accurate records, monitoring income and expenditure, understanding allowable expenses, VAT, cash-flow forecasting and completing a Self Assessment tax return.
Yes. The course covers how to maintain records of your business income and expenditure, including using an Excel spreadsheet to keep weekly or monthly records and to create a set of accounts for the year.
Yes. You will learn about the types of business expenses you can potentially claim and offset against your taxable profits, helping you better understand how expenses affect your Self Assessment.
Yes. The course introduces the VAT registration threshold and explains the implications VAT can have for your business, helping you understand when VAT may become relevant as your business grows.
Will I learn how to create a cash-flow forecast?
Yes. Completing a Self Assessment online is a key part of the course. You will be guided through the process and develop a better understanding of the information you need when completing your return.
No. There is no formal examination or assessment. Your understanding will be reinforced through informal exercises during the course, and you will receive a course completion certificate after attending.
Yes. Your trainer will do their best to answer relevant questions and explain how the topics covered could apply to your business. Where possible, examples and advice can be tailored to your business sector and circumstances.
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