Description
This book is a practical guide to all aspects of the taxation of unincorporated businesses in one volume. This book is intended for advisors to small businesses and specifically for those advising businesses trading as sole traders, sole practitioners or partnerships.
Up to the introduction of the 19% tax rate for non-corporate distributions small businesses were usually advised that they should trade through the medium of a limited company. The advantages of doing so are now less clear cut and the advantages and disadvantages are addressed in this book. In addition, it may now be possible to obtain some of the benefits of incorporation by trading as a limited liability partnership. Most books have assumed that a business is trading through the medium of a limited company, and this book aims to address the needs of businesses which do not wish to incorporate.
The aims of the book are to give a clear explanation of the relevant legislation and practical advice on ways of minimising clients? tax liabilities and warning against common pitfalls.
CONTENTS
Tax Rates and Allowances
Tables
Contents
1: The Legal Framework of Taxation
2: Administration of Personal Tax
3: Self-assessment
4: Self-assessment Enquiries, Discovery Assessments and Investigations
5: Interest, Surcharges, Penalties and Criminal Offences
6: Income Tax Computation
7: Overseas Aspects of Taxation
8: Employment and Self-employment
9: Pensions and Retirement Benefit Schemes
10: Taxation of Trading Profits
11: Capital Allowances on Plant and Machinery
12: Industrial Buildings Allowance and Other Allowances
13: Basis Periods
14: Schedule D Case I Losses
15: Income from Property
16: Stamp Duty Land Tax
17: Partnerships
18: Special Classes of Taxpayers
19: Incorporation, Disincorporation and Choice of Business Medium
20: National Insurance and the Self-employed
21: Inheritance Tax ? Business Reliefs
22: Capital Gains Tax
23: Value Added Tax
24: Value Added Tax ? Special Schemes
25: VAT Administration, Appeals, Interest, Penalties and Surcharges
26: Income from Employment
27: Benefits in Kind
28: National Insurance Contributions and Employment
29: Pay as You Earn (PAYE) and Collection of National Insurance Contributions
30: Construction Industry Scheme (CIS)
31: Notification of Tax Avoidance Schemes
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Malcolm James
Malcolm James is a Senior Lecturer in Accounting and Taxation at the University of Wales Institute, Cardiff and has lectured widely on the subject of taxation on both professional and undergraduate courses. He has also done a number of lectures for the Chartered Institute of Taxation and has written a number of articles for their journal âTaxation Adviserâ. He also contributes regularly to a number of CCHâs and Butterworth Tolleyâs tax publications. Before becoming a lecturer he worked for several large firms of accountants and also in industry.
Spiramus Press
We are a UK-based publisher, with an emphasis on tax titles for lawyers, accountants and tax managers. Our books cover both UK and international tax.
