Table of Contents

Preface Abbreviations and statutes Summary of main changes 2007/08 Part I: Income tax 1 General principles 2 Administration 3 Personal allowances and reliefs 4 Charges on income and interest paid 5 Savings and investment income 6 Income from employment I - general aspects 7 Income from employment II - international aspects 8 Income from employment III - PAYE 9 Income from UK land and property 10 Foreign income 11 Income taxed as trade profits I - general principles 12 Income taxed as trade profits II - basis periods 13 Income taxed as trade profits III - change of accounting date 14 Capital allowances 15 Relief for trading and capital losses 16 Partnership taxation 17 Personal investment - pensions 18 Estate and trust income 19 National Insurance contributions and Social Security Income tax: end of section questions and answers Part II: Corporation tax 20 General principles 21 The charge to corporation tax 22 Capital allowances 23 Charges on income/quarterly returns 24 Qualifying distributions 25 Relief for losses 26 Close companies 27 Corporation tax rates and the small company 28 Groups and consortia 29 International aspects 30 Miscellaneous Corporation tax: end of section questions and answers Part III: Taxation of chargeable gains 31 General principles 32 The basic rules of computation 33 Land and chattels 34 Stocks and securities 35 Taxable persons 36 Chargeable occasions 37 Gifts - holdover relief 38 Business assets and businesses Taxation of chargeable gains: end of section questions and answers Part IV: Inheritance tax 39 General principles 40 Basic rules of computation 41 General exemptions and reliefs 42 Principles of valuation 43 Business property relief 44 Agricultural property and woodlands relief 45 Settlements Inheritance tax: end of section questions and answers Part V: Value added tax 46 General principles 47 The VAT system 48 Special retail schemes VAT: end of section questions and answers Part VI: Elements of tax planning 49 Elements of tax planning Part VII: Case law 50 Case law Index

About the Author

Peter Rowes BSc(Econ), FCA, ATII is a Chartered Accountant specialising in taxation. He formerly lectured at the University of Wolverhampton and worked in practice as a tax specialist for many years. Richard Andrews BA(Hons), MSc, FCCA is a Senior Lecturer in Accounting and Tax at the University of Hull. Alan Combs BA, Msc, FCCA, is a Senior Lecturer in Accounting and Tax at Leeds Metropolitan University.

Reviews

Andrew Lymer - University of Birmimgham This is a great book for both newcomers to UK taxation - such as University and professional stduents - or those who need to keep up to date with the details of the ever changing nature of UK taxation. I recommend this detailed technical guide to all my students over all similar guides and technical manuals.