Aimed at students studying for either University degrees incorporating courses in UK taxation and also students studying tax courses for professional qualifications in accounting, banking, management and taxation, this book is suitable for anyone wishing to understand more of the detailed workings of the UK tax system.

Preface Abbreviations and statutes Summary of main changes 2005/06 Part I: Income tax 1 General principles 2 Administration 3 Personal allowances and reliefs 4 Charges on income and interest paid 5 Savings and investment income 6 Income from employment I - general aspects 7 Income from employment II - international aspects 8 Income from employment III - PAYE 9 Income from UK land and property 10 Foreign income 11 Income taxed as trade profits I - general principles 12 Income taxed as trade profits II - basis periods 13 Income taxed as trade profits III - change of accounting date 14 Capital allowances 15 Relief for trading and capital losses 16 Partnership taxation 17 Personal investment - pensions 18 Estate and trust income 19 National Insurance contributions and Social Security Income tax: end of section questions and answers Part II: Corporation tax 20 General principles 21 The charge to corporation tax 22 Capital allowances 23 Charges on income/quarterly returns 24 Qualifying distributions 25 Relief for losses 26 Close companies 27 Corporation tax rates and the small company 28 Groups and consortia 29 International aspects 30 Miscellaneous Corporation tax: end of section questions and answers