Full Description
Voted 'The Nation's Favourite Tax Book' by members of AccountingWeb, this is the premier one-stop reference work for tax professionals. Written by experts, in clear, concise English, its logical structure and comprehensive analysis of the latest tax legislation make it the obvious first choice for finding answers in seconds. Complex tax legislation is translated into straightforward everyday language and the Guide includes numerous worked examples, tax points and clear tables. "Tolley's Tax Guide" covers all areas of UK taxation in one single portable volume. With 45 chapters and the content divided into the following sections, you can go straight to the information you need, saving valuable research time: Outline of the UK tax system; Employment; Pensions; Trading activities; Land and buildings; Tax and the family; Choosing investments; and, Other areas, including trusts and estates, and the overseas element. The following is new for 2011-12 Corporation tax. It features: reduction in main rate and small profits rate of corporation tax; changes to capital allowances regime for short life assets; extension of Business premises renovation allowance; increase in R&D relief available to SMEs; relaxation of the rules governing use of pre-entry capital losses; simplification of CFC rules; income tax; and, new rates and allowances. It also features: amendment to furnished holiday lettings relief; introduction of junior ISA and increase in ISA contribution limits; increase in income tax relief for EIS/VCT shares; increase in car fuel benefit charge; increase in tax free mileage payments for own car use by employees; changes to gift aid regime; reduction in pension annual allowance and changes to applicable benefits; withdrawal of facility to elect for income tax repayment to be made to charity; capital gains tax; new annual exemption level; further increase in the Entrepreneurs relief limit Inheritance tax; freezing of nil rate band VAT; and, new VAT fuel scale charges. In addition many of the numerous measures that have been announced to take effect in 2012 and beyond will be covered in "Tax Guide" as appropriate.
Contents
"1. Introduction;2. Income tax and tax credits: general principles;3. Corporation tax: general principles;4. Capital gains tax: general principles;5. Inheritance tax: general principles;6. Stamp taxes;7. Value added tax: general principles;8. Council tax and business rates;9. Dealing with the Revenue;10. Employments -- income chargeable and allowable deductions;11. Employee share options and awards;12. Directors of small and family companies;13. National insurance contributions -- employees and employers;14. Statutory sick pay and statutory maternity etc pay;15. Golden handcuffs and golden handshakes;16. Occupational pension schemes;17. Personal pension schemes;18. Sole trader, partnership or company?19. Starting up a new small or part-time business;20. How are business profits calculated?21. How are business profits charged to tax?22. Capital allowances;23. Partnerships;24. National insurance contributions for the self-employed;25. Losses of sole traders and partners;26. Company losses;27. Transfer of business to limited company;28. Selling the family company;29. Encouraging business investment, enterprise and efficiency;30. Your family home;31. A country life: farms and woodlands;32. Investing in land and buildings;33. Family matters;34. Especially for the senior citizen;35. Making a will and post-death planning;36. Tax on your investments;37. Investing in banks and building societies;38. Investing in stocks and shares;39. Chattels and valuables;40. Sensible use of life insurance;41. The overseas element;42. Trusts and estates;43. Charities and charitable trusts;44. Subcontractors in the construction industry;45. Main anti-avoidance provisions;Subject index"
