Offering a practical overview of income tax in the UK from one of the UK's leading tax writers, Income Tax 2019/20 covers day-to-day issues frequently encountered by tax practitioners, explaining in straightforward terms what the law means in practice.
It provides comprehensive coverage of:
The UK tax system
Income tax compliance
The Scottish rate of income tax
Savings and investments
Pensions and benefits
Employment
Self-employment
Property income
Trusts and estates
Non-residents
Planning checklists
This edition has been updated in line with Finance Act 2019/20 and includes the following key topics:
Commentary on prospective late payment penalties for income tax self-assessment
Updates on tax-efficient investments and savings - including NS&I Premium Bonds
Latest information on the taxation of benefits-in-kind and expenses, including 'green' opportunities
Changes to capital allowances, including the extension to the annual investment allowance and changes to the 'special rate' pool
Updated commentary on how recent changes affect planning opportunities
This accessible reference guide has a user-friendly structure with 'signposts' at the beginning of each chapter to summarise key topics and 'focus points' throughout to highlight important issues. Numerous worked examples demonstrate how to apply the main principles in practice and all examples are listed in a table at the beginning for quick navigation.