E-Book Overview
This edition brings the book completely up to date with the provisions of Finance Act 2019, including:
· Substantial increase in income tax higher rate threshold
· Revised Scottish income tax limits
· Benefits in kind for electric motor cars
· Capital allowances special rate reduction
· Annual investment allowance temporary increase
· Structures and buildings allowances
· Reform of NICs employment allowance
· Retention of Class 2 NICs
· PPR relief for final period of ownership
· Changes to CGT entrepreneurs' relief conditions
· Corporate capital losses restriction
· Further extension to freezing of VAT thresholds
E-Book Content
PEARSON EDUCATION LIMITED
KAO Two KAO Park Harlow CM17 9SR United Kingdom Tel: +44 (0)1279 623623 Web: www.pearson.com/uk First published 1995 (print) Twenty-fifth edition published 2020 (print and electronic) © Pearson Professional Limited 1995, 1996 (print) © Financial Times Professional Limited 1997, 1998 (print) © Pearson Education Limited 1999, 2010 (print) © Pearson Education Limited 2011, 2020 (print and electronic) The right of Alan Melville to be identified as author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. The print publication is protected by copyright. Prior to any prohibited reproduction, storage in a retrieval system, distribution or transmission in any form or by any means, electronic, mechanical, recording or otherwise, permission should be obtained from the publisher or, where applicable, a licence permitting restricted copying in the United Kingdom should be obtained from the Copyright Licensing Agency Ltd, Barnard’s Inn, 86 Fetter Lane, London EC4A 1EN.
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Contents
8 Income from employment (2) 109 Early trade losses relief 184 Benefits in kind 109 Terminal trade loss relief 186 Living accommodation 111 Post-cessation trade relief 188 Cars provided for private use 114 Transfer of a business to a company 188 Beneficial loans 118 Losses on shares in unlisted trading Salary sacrifice
120 companies 188 Limit on income tax reliefs 189 9 Income from self-