Part 1 Income Tax and National Insurance

1 Introduction to the UK tax system

2 Introduction to income tax

3 Personal allowances 

4 Payments and gifts eligible for tax relief

5 Income from property

6 Income from savings and investments

7 Income from employment (1)

8 Income from employment (2)

9 Income from self-employment: Computation of income

10 Income from self-employment: Basis periods

11 Income from self-employment: Capital allowances

12 Income from self-employment: Trading losses

13 Income from self-employment: Partnerships

14 Pension contributions

15 Payment of income tax, interest and penalties

16 National Insurance contributions

Part 2 Capital Gains Tax

17 Introduction to capital gains tax

18 Computation of gains and losses

19 Chattels and wasting assets

20 Shares and securities

21 Principal private residence

22 CGT reliefs

Part 3 Corporation Tax

23 Introduction to corporation tax

24 Corporate chargeable gains

25 Computation and payment of the corporation taxliability

26 Corporation tax losses

27 Close companies and investment companies

28 Groups of companies and reconstructions

Part 4 Miscellaneous

29 Value added tax (1)

30 Value added tax (2)

31 Inheritance tax

Get clarity on UK taxation rules and policies in this up-to-date guide for year 2021

Taxation by Alan Melville is the definitive, market-leading text on UK taxation. Now in its 27^th Edition, it clearly explains the UK tax system and taxation regulations. Known for its well-structured and clearly written prose, practical examples and up-to-date coverage of annual Budget changes, this comprehensive guide serves as both a core textbook if you are studying taxation for the first time and a reference text.

“This book is written with students in mind…This approach makes the book a very accessible introduction to the sometimes complex world of taxation” Robert Goddard, Aston Business School

As well as incorporating many new and revised practical examples and exercises, this edition brings the book completely up-to-date with the provisions of the Finance Act 2021, including:

   • Personal allowance and basic rate limit frozen until 6 April 2026

   • AIA set at £1m for a further year

   • Relief for trading losses extended

   • CGT annual exemption frozen until 6 April2026

   • Capital allowances super-deduction

   • Corporation tax main rate 25% for FY2023

   • Reintroduction of CT small profits rate

   • VAT reduced rate for tourism and hospitality

   • VAT thresholds frozen until 1 April 2024

   • MTD for VAT extended

   • IHT NRB frozen until 6 April 2026

Highly valuable to both undergraduate and professional students of business and accounting, this book is particularly useful for students preparing for the following examinations:

ICAEW Certificate Level, Principles of Taxation; ACCA Applied Skills Level, Taxation; ACCA Technician Scheme, Foundations in Taxation; CIPFA Diploma Stage, Taxation; AAT Professional Diploma, Personal Tax and Business Tax; ATT Certificates, Personal Taxation and Business Taxation; AIA Foundation Level, Auditing and Taxation; IFA Personal Taxation, Business Taxation.

Supported by free to access Companion Website featuring opportunities for extra practice, chapter appendices and a range of useful links to explore taxation rules and the tax system further.

Alan Melville FCA BSc Cert Ed. is a best-selling author. Previously a Senior Lecturer at Nottingham Trent University, he has many years’ experience of teaching accounting and taxation.

For this edition, updates to the Companion Website questions have been provided by Richard Poole FCCA BSc (Hons.), Classroom and Online Tutor, specialising in Tax, Audit and Financial Reporting. 

Pearson, the world’s learning company.

Clearly introduces key principles of Taxation

·       Uses a step-by-step approach, equipping students with principles and illustrating these with relevant examples that help students make sense of real taxation issues

·       Handy brief Introductions at the outset of each chapter plus Summaries at the end of each chapter make key points easy to digest

Equips teachers and students with a comprehensive package of worked examples, exercises and review questions that can be assigned for active learning or revision

·       UPDATED - Regular worked Examples and end of chapter Exercises get students thinking and are chosen to come at the most helpful and most necessary points in each chapter.

·       UPDATED - Review questions, drawn mainly from the past examination papers of the professional accounting bodies, will help students periodically consolidate and apply what they have been learning.

·       UPDATED - A full set of solutions is provided, some within the book and some as a download available for lecturers, found in the Instructor’s Manual at go.pearson.com/uk/he/resources.

Refreshed content reflecting changes in the field

·       UPDATED -This edition brings the book completely up to date with the provisions of Finance Act 2021, including:

   • Personal allowance and basic rate limit frozen until 6 April 2026

   • AIA set at £1m for a further year

   • Relief for trading losses extended

   • CGT annual exemption frozen until 6 April2026

   • Capital allowances super-deduction

   • Corporation tax main rate 25% for FY2023

   • Reintroduction of CT small profits rate

   • VAT reduced rate for tourism and hospitality

   • VAT thresholds frozen until 1 April 2024

   • MTD for VAT extended

   • IHT NRB frozen until 6 April 2026

Opportunities to take learning further

·       UPDATED -A free to access Companion Website found at go.pearson.com/uk/he/resources provides a comprehensive range of student-learning resources, including additional questions, chapter appendices, web links for further reading about the UK tax system and tax rules, a complete solution guide for lecturers and PowerPoint slides for each chapter.

This edition brings the book completely up to date with the provisions of Finance Act 2021, including:

   • Personal allowance and basic rate limit frozen until 6 April 2026

   • AIA set at £1m for a further year

   • Relief for trading losses extended

   • CGT annual exemption frozen until 6 April 2026

   • Capital allowances super-deduction

   • Corporation tax main rate 25%for FY2023

   • Reintroduction of CT small profits rate

   • VAT reduced rate for tourism and hospitality

   • VAT thresholds frozen until 1April 2024

   • MTD for VAT extended

   • IHT NRB frozen until 6 April2026