St. James's Place Tax Guide 2014-2015

by Sinclair, Walter; Lipkin, E. Barry

• ISBN13: 9781137411921
• ISBN10: 1137411929
• Edition: 43rd
• Format: Hardcover
• Copyright: 2014-08-27
• Publisher: Palgrave Macmillan

Summary

The annual St. James's Place Tax Guide is a reliable, comprehensive and user-friendly guide which explains in simple terms how the UK tax system works and how best to minimise tax liabilities. It is designed both for private individuals needing advice on self-assessment and tax saving, and for professionals needing to check the latest rules. Now in its 43rd edition, this year's guide is fully updated to reflect the 2014-2015 tax system and the important changes announced for future years. Tax changes for the year are highlighted in the opening chapter, and updated tax-saving hints and tax tables in the closing chapters.
 
Some of the tax changes included in this edition are:

* Personal allowances up: £10,000 for 2014-15 and £10,500 for 2015-16
* Part of personal allowance transferable between certain spouses and civil partners from 2015-16 onwards
* Starting rate for savings income to be reduced to 0% on the first £5,000 from 2015-16
* Increased flexibility and liberation for pensions
* An increased ISA allowance operates from 1 July 2014 of £15,000 in any mix of cash and shares
* The seed enterprise investment scheme is being made permanent
* Enhanced capital allowances for enterprise zones being extended by 3 years
* Anti-avoidance provisions including countering false self employment arrangements using intermediaries and involving partnerships
* Increase in VAT registration and deregistration limits
* Annual investment allowance increased until 31 December 2015

Author Biography

Walter Sinclair, FCA, has been a tax specialist for over 40 years. Having been a tax partner with two leading firms, he now acts independently. He has written many articles for specialist journals and the national press and is the author of various popular books on tax, including the St James's Place Tax Guide since its first publication as the Hambro Tax Guide in 1972.

E. Barry Lipkin, LlB FCA ATII TEP is a long-standing contributor to the St. James's Place Tax Guide. Now in independent practice, after many years as a tax consultancy partner at a leading national firm, his experience in tax, trusts and related fields embraces consultancy, litigation, executorship, writing and lecturing.

Table of Contents

Preface
Abbreviations
Introduction
1. This Year's Tax Changes
2. The Basis of Your Tax Liability
3. Personal Reliefs
4. Annual Payments and Interest
5. Computing Your Income Tax Bill
6. Husband, Wife, Civil Partners and Children
7. Income from Land and Property
8. Income from Dividends and Interest
9. Life Assurance
10. Income from Employments and PAYE
11. Income from Businesses and Professions
12. Partnerships
13. Companies
14. Pensions
15. Miscellaneous Aspects
16. Returns, Assessments and Repayment Claims
17. Domicile and Residence
18. Tax on Foreign Income
19. Non-residents, Visitors and Immigrants
20. Capital Gains Tax
21. The Taxation of Trusts and Estates
22. Inheritance Tax
23. An Outline of VAT
24. Stamp Duty
25. Social Security
26. Tax Saving Hints
Tax Tables
Glossary
Index