Tolley's Taxwise II 2020-21
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Why should you buy Tolley's Taxwise II 2020-21
The second part of this two-volume set is a highly practical text on how to best approach real-life computations. Coverage includes capital transfer tax, IHT, IT rates, rates for trusts, taxation of estates and more. Worked examples are complemented by detailed explanatory notes and there are step-by-step guidelines on the layout of computations. Plus, full cross-referencing and comprehensive indexing further assist fast, effective research.
Important updates included in the latest edition:
- New capital gains tax annual exemption for all taxpayers
- New rates of income tax for Scottish taxpayers
- Renaming entrepreneurs’ relief and reduction in lifetime limit to £1 million
- New file and pay compliance arrangements for capital gains tax on disposal of residential property
- Extension of categories of hardship payments left out of account for IHT
- New rules for testing excluded property status of property added to trusts
- Uprating of statutory legacy to surviving spouse/civil partner on intestacy
- Key case law on land valuation, IHT relief for political donations, and agricultural property relief
- Proposals for the reform of IHT, and the statement on the location of cryptoassets
Written by tax experts who are renowned not only for their technical skills but also for their ability to make sense of complex subjects.
Essential reading for all students in professional tax examinations.