Many universities, including those in the UK and US, talk about the split between research, teaching and admin. A split of time of 40% research, 40% teaching, and 20% service is not atypical at an R1 university (e.g., UK Russel Group). Some schools might go as low 20% on teaching and others might go as high as 80%. Some schools allow you to "buy out" of teaching with grant income and give teaching releases to new faculty.
In the UK, the work year consists of about 1800 hours (37.5 hours per week times 48 weeks a year). With a 40% teaching load, you should be doing 720 hours of "teaching". Teaching obviously consists of more than just standing in front of students lecturing. My UK university developed a work load model to capture our teaching. We were credited with time for supervising undergraduate final year project students, our mandated office hours, marking, tutorials, and lecturing. For every hour of tutorial and lecture, we are given either 4 or 8 hours of prep time depending on if it is new teaching or not.
For my school, a standard load includes providing 15 hours of "teaching and prep" for each of 6 project students, 10 hours of first year tutorials, and 10 hours of second year tutorials, and 40 hours for office hours for a total of 230 hours. Over the course of the year we typically have to mark 400 essays and 100 lab reports at 0.25 and 0.5 hours each. This brings our "teaching" outside of regular classes to 380 hours. This means we need to provide about 68 classroom hours a year or 3.4 hours of teaching time every week of term time. Depending on what you mean by two course a year, in the UK that could very well equal 3.4 hours every week.
Our workload model tries to capture admin work in a very superficial way. We get credit for attending faculty meetings, away days, and department seminars, but do not get any "prep" time. Committees are banded based on expected number of hours spent. Some drastically underestimate the load and others are about right.