Taxation: Theory and Practice is a core introductory text, providing broad coverage of personal and corporate taxation in the UK, from both a theoretical and a practical perspective. The intricacies of the taxation system are explained in a simple and approachable style, with many worked examples, review questions and other aids to learning.
PART 1: The theory of taxation. 1. Introduction to the theory of taxation 2. Income taxation 3. The taxation of wealth 4. Company taxation 5. Indirect taxation 6. Tax evasion and avoidance 7. The UK tax system as a whole 8. Taxation and international trade Review questions. PART 2: Income tax. 9. Introduction to income tax 10. Business income 11. Capital allowances 12. Relief for trading losses 13. Income from employment 14. National insurance contributions 15. Provision for retirement 16. Investment income 17. The unified tax computation 18. Overseas, aspects of income tax 19. Taxation of estate income 20. Income tax on trust Practice questions. PART 3: Capital gains tax. 21. Introduction to capital gains tax 22. The computation of gains and losses 23. Chattels and wasting assets 24. Compensation and insurance money 25. Land and property 26. Shares and security 27. Capital gains tax reliefs 28. Partnership gains 29. Overseas aspects of CGT 30. Capital gains tax on estates and trusts Practice questions. PART 4: Corporation tax. 31. The charge to corporation tax 32. Advance corporation tax and income tax 33. Loss relief 34. Close companies 35. Investment companies 36. Groups of companies 37. Overseas aspects of corporation tax Practice questions. PART 5: Introduction to value added tax. 38. The supply of goods and services 39. Registration 40. The VAT system and accounting for VAT 41. The administration of VAT Practice questions. PART 6: The administration of direct taxation in the UK. 42. Administration of income tax and capital gains tax 43. Due dates, interest and penalties 44. The pay as you earn system 45. The administration of corporation tax Practice questions. Appendix 1: Important law case. Appendix 2: Summary of rates and allowances. Appendix 3: Answers to self assessment questions. Index.