Taxation : finance act 2016 / / Alan Melville

• Record Nr.: UNINA9910154944303321
• Autore: Melville Alan
• Pubbl/distr/stampa: Harlow, England : , : Pearson, , 2017; ©2017
• ISBN: 1-292-13910-2; 1-292-13911-0
• Edizione: [Twenty-second edition.]
• Descrizione fisica: 1 online resource (610 pages)
• Disciplina: 336.200941
• Soggetti: Taxation - Great Britain
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Includes index.
• Nota di contenuto: Cover -- Title Page -- Copyright -- Contents -- Preface -- Acknowledgements -- Summary of tax data -- Part 1 INCOME TAX AND NATIONAL INSURANCE -- Chapter 1 Introduction to the UK tax system -- UK taxes -- Sources of tax law -- The tax year -- Structure of HM Revenue and Customs -- Administration of the tax system -- Self Assessment -- Appeals -- Tax evasion -- Tax avoidance -- The HMRC Charter -- Chapter 2 Introduction to income tax -- Taxable persons -- Classification of income -- Exempt income -- Structure of an income tax computation -- Married couples and civil partners -- Rates of income tax for 2016-17 -- Income taxed at source -- Savings income -- Dividend income -- Chapter 3 Personal allowances -- Personal allowances for 2016-17 -- The personal allowance -- Blind person's allowance -- Tax reducers -- Married couple's allowance -- Chapter 4 Payments and gifts eligible for tax relief -- Payments and gifts deductible from total income -- Eligible interest payments -- Annual payments -- Gifts of shares or property to charity -- Payments which are tax reducers -- Maintenance payments -- Loans used to purchase a life annuity -- Gifts of pre-eminent property to the nation -- Gift Aid -- Chapter 5 Income from property -- Definition of property income -- Basis of assessment and allowable expenditure -- Capital expenditure -- Losses -- Lease premiums -- Rent-a-room" relief -- Furnished holiday lettings -- Chapter 6 Income from savings and investments -- ; Interest received -- Dividends received -- Tax-efficient investments -- Individual Savings Accounts -- Enterprise Investment Scheme -- Venture Capital Trusts -- Child Trust Funds -- Income from trusts and settlements -- Miscellaneous income -- Chapter 7 Income from employment (1) -- Employment and self-employment -- Basis of assessment -- Employment income -- Non-taxable employment income.; Deductible expenses -- Payments made on termination of employment -- The PAYE system -- Construction industry scheme -- Employee incentive schemes -- Chapter 8 Income from employment (2) -- Benefits in kind -- Living accommodation -- Cars provided for private use -- Beneficial loans -- Chapter 9 Income from self-employment: Computation of income -- The badges of trade -- The calculation of trading profits -- Deductibility of expenditure -- Disallowed expenditure -- Allowable expenditure -- Adjustments relating to income -- Trading income allowance -- Cash basis and simplified expenses -- Chapter 10 Income from self-employment: Basis periods -- The current year basis -- Commencement of trade -- Cessation of trade -- Change of accounting date -- Averaging of trading profits for farmers and creative artists -- Chapter 11 Income from self-employment: Capital allowances -- Eligible expenditure -- Chargeable periods -- Plant and machinery -- Capital allowances on plant and machinery -- Writing down allowance -- Annual investment allowance -- First year allowance -- Balancing allowances and charges -- Non-pooled assets -- Allowances on cessation of trade -- Miscellaneous capital allowances -- Chapter 12 Income from self-employment: Trading losses -- Relief for trading losses -- Carry-forward trade loss relief -- Trade loss relief against total income -- Early trade losses relief -- Terminal trade loss relief -- Post-cessation trade relief -- Transfer of a business to a company -- Losses on shares in unlisted trading companies -- Limit on income tax reliefs -- Chapter 13 Income from self-employment: Partnerships -- Principles of partnership taxation -- Notional profits and losses -- Change in partnership composition -- Non-trading income -- Trading losses -- Chapter 14 Pension contributions -- Registered pension schemes.; Tax relief for contributions by scheme members -- Tax relief for contributions by employers -- Annual allowance charge -- Lifetime allowance charge -- Chapter 15 Payment of income tax, interest and penalties -- Payment of income tax -- Late payment penalties -- Interest on overdue income tax -- Interest on overpaid income tax -- Penalties -- Chapter 16 National Insurance contributions -- Class 1 -- Class 1A -- Class 1B -- Class 2 -- Class 3 and 3A -- Class 4 -- Annual maximum contributions -- Review questions (Set A) -- Part 2 CAPITAL GAINS TAX -- Chapter 17 Introduction to capital gains tax -- Chargeable persons -- Chargeable assets -- Chargeable disposals -- Basis of assessment -- Rates of CGT -- Relief for capital losses -- Relief for trading losses -- Administration of CGT -- Chapter 18 Computation of gains and losses -- Layout of a CGT computation -- Disposal value -- Allowable expenditure -- Part disposals -- Assets with negligible value -- Assets held on 31 March 1982 -- Chapter 19 Chattels and wasting assets -- The chattels exemption -- Chattels disposed of at a loss -- Part disposals of chattels -- Wasting chattels -- Wasting assets -- Leases -- Chapter 20 Shares and securities -- The share matching rules -- The Section 104 holding -- Bonus issues -- Rights issues -- Capital distributions -- Takeovers -- Gilts and qualifying corporate bonds -- Chapter 21 Principal private residence -- Principal private residence -- Partial exemption -- Deemed residence -- Letting relief -- Business use -- Chapter 22 CGT reliefs -- Damaged ; assets -- Destroyed assets -- Replacement of business assets -- Gift of business assets -- Transfer of a business to a limited company -- Entrepreneurs' relief -- Reinvestment into EIS shares -- Loans to traders -- Review questions (Set B) -- Part 3 CORPORATION TAX -- Chapter 23 Introduction to corporation tax.; Scope of corporation tax -- Accounting periods -- Taxable total profits -- Trading income -- Income from property -- Income from non-trading loan relationships -- Dividends received -- Relief for charitable donations -- Loan relationships -- Long periods of account -- Research and development tax relief -- Intangible fixed assets -- Chapter 24 Corporate chargeable gains -- Chargeable disposals and chargeable assets -- Basis of assessment -- Computation of gains and losses -- Indexation allowance -- Assets held on 31 March 1982 -- The rebasing election -- Assets acquired before 6 April 1965 -- Disposals of shares or securities -- Disincorporation relief -- Chapter 25 Computation and payment of the corporation tax liability -- Corporation tax financial years -- Rates of corporation tax -- Due date of payment -- Accounting for income tax deducted at source -- Shadow ACT -- Self Assessment -- Interest on underpaid and overpaid corporation tax -- Penalties -- Corporation tax rates prior to FY2015 -- Chapter 26 Corporation tax losses -- Relief for trading losses -- Carry forward of trade loss relief -- Unrelieved charitable donations -- Trade loss relief against total profits -- Repayments of corporation tax -- Anti-avoidance legislation -- Choice of loss relief -- Non-trading losses -- Chapter 27 Close companies and investment companies -- Close companies -- Definition of a close company -- Exceptions -- Consequences of close company status -- Close investment-holding companies -- Companies with investment business -- Choice of business medium -- Incorporation -- Chapter 28 Groups of companies and reconstructions -- Related 51% group companies -- Transfer pricing -- 51% groups -- 75% groups -- Group relief -- Transfer of chargeable assets within a group -- Capital losses -- Consortia -- Company reconstructions -- Review questions (Set C).; Part 4 MISCELLANEOUS -- Chapter 29 Value added tax (1) -- The principle of VAT -- Taxable persons -- Taxable supplies -- Exempt supplies -- Reduced rate supplies -- Zero rate supplies -- The value of a supply -- Imports and exports -- Registration -- Deregistration -- Chapter 30 Value added tax (2) -- Accounting for VAT -- The tax point -- Tax invoices -- Accounting records -- Special schemes -- Retail schemes -- Bad debts -- Non-deductible input tax -- Partial exemption -- Administration of VAT -- Penalties, surcharges and interest -- Chapter 31 Inheritance tax -- Chargeable transfers of value -- Exempt transfers -- Potentially exempt transfers -- IHT payable on chargeable lifetime transfers -- IHT payable on death -- Valuation -- Business property relief -- Agricultural property relief -- Administration of IHT -- Chapter 32 Overseas aspects of taxation -- Residence and domicile -- Income tax - general rules -- Double taxation relief -- Income from employment -- Trading income -- Income from property and investments -- Capital gains tax - general rules -- Inheritance tax - general rules -- Corporation tax - general rules -- Controlled foreign companies -- Double taxation relief for companies -- Diverted profits tax -- Review questions (Set D) -- Part 5 ANSWERS -- Answers to exercises -- Answers to review questions -- Index.
• Sommario/riassunto: Now in its 22nd annual edition, Melville's Taxation continues to be the definitive, market-leading text on UK taxation. Featuring clean, uncluttered prose and a wealth of immensely practical examples, this text is a comprehensive guide for students taking a first level course in ; the subject.