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Edition 2022-23
Published May 2022
Length 985 pages
Suitable for Accountants, tax advisers, in-house tax departments
Price £95 (or see bundle discounts)
ISBN 9781912386628

Income Tax 2022-23

£95.00


This Income Tax volume aims to be the clearest single-volume guide to income tax in the UK. Written for accountants and tax specialists, the text is arranged across 10 sections, with a total of 43 chapters and around 1,000 pages of commentary. Available on its own or as part of a discounted bundle.

"With more than 900 pages, you'd expect this book to give wide coverage and, indeed, this is a strength, as are the extensive references to legislation and HMRC guidance. The writing style is clear and pitfalls and planning points are helpfully included. ... I commend Claritax for this first edition." TAXline review of first edition August 2021


New for this edition

  • Expanded coverage of personal and business tax accounts
  • New commentary on Making Tax Digital
  • Updated rates for NIC, dividends, company cars, pensions, etc.
  • Updated commentary on costs for employees working from home
  • Expanded commentary on PAYE settlement agreements
  • Covid-19 commentary reviewed and updated as appropriate
  • Structures and buildings allowances – new evidence requirement
  • Introduction of capital allowance freeports
  • Updated coverage of conditions for carer’s allowance
  • New section on bereavement support payments
  • Major new chapter on residents with foreign interests
  • New trust registration requirements
  • All examples reviewed and updated as appropriate

Contents


INTRODUCTION AND COMPLIANCE
- Introduction
- Tax administration and compliance

COMPUTATIONAL ASPECTS
- Computation of income tax
- Devolution of taxes

EMPLOYMENT INCOME
- Identifying employment income
- Taxable employment benefits
- Exempt employment benefits
- Employment expenses
- Termination payments
- Employment-related securities
- Tax-advantaged share schemes
- Statutory payments
- Other income treated as employment income
- PAYE and other reporting obligations

INCOME FROM SELF-EMPLOYMENT
- Business profits
- Partnerships
- Losses
- Farmers and creative artists
- Construction Industry Scheme

CAPITAL ALLOWANCES
- Plant and machinery allowances
- Fixtures
- Structures and buildings allowances

INVESTMENT INCOME
- Taxation of interest
- Taxation of dividends
- Taxation of life policies

PROPERTY INCOME
- Taxation of rental profits
- Leases and lease premiums
- Furnished holiday lettings

PENSIONS AND STATE BENEFITS
- Introduction to pensions
- Contributions to registered pension schemes
- Payments from registered pension schemes
- State pension provision
- Non-pension state benefits

INTERNATIONAL ASPECTS
- Residence
- Double taxation
- Domicile
- Remittance basis
- Residents with foreign interests
- Non-residents
- Foreign nationals coming to the UK
- International assignees

TRUSTS AND ESTATES
- Taxation of trusts
- Taxation of estates


About the authors

Juliet Connolly CTA, ACA [International tax chapters] runs her own company, UK Expat, based in Melbourne. She formerly worked for smaller accounting practices in the UK and for KPMG, specialising in expatriate tax matters.

Megan Saksida BA, CTA, FCA, TEP [Trusts and investment income chapters] lectures for exam training and post-qualification CPD courses, and speaks regularly at tax conferences. She is also a technical editor for CTA manuals, and is on the CIOT technical committee for successions.

Karen Speight LL.B [Employment income, pensions, state benefits] has worked for more than 25 years in professional services, including 11 as a tax partner with Ernst & Young. Karen lectures on CTA and ATT courses, and prepares training manuals and associated support material.

Lucy Webb CTA, ACA [Business taxes and FHLs] is a freelance tax writer, writing frequently for AccountingWeb as well as producing in-depth guides and CPD courses. Lucy formerly worked in the asset management tax team at Deloitte.

Capital allowances commentary has been contributed by Ray Chidell MA (Cantab), CTA (Fellow). Ray has written extensively in the tax press for nearly 30 years. He runs Claritax Books and also has a part-time role as a capital allowances specialist.

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