Taxation: Finance Act 2025

Taxation, 31st edition, by Melville is the bestselling text on UK taxation, incorporating the changes introduced in 2025 by the annual Budget. This edition includes new examples and exercises, making it an essential core text for those studying taxation for the first time, as well as a comprehensive reference text that explains the UK tax system. The latest edition updates the book to reflect the provisions of the Finance Act 2025.

Navigate UK taxation rules and policies for 2025 with the market-leading text Taxation, 31st edition by Alan Melville serves as a comprehensive and authoritative guide to UK taxation, updated to align with the Finance Act 2025, and praised for its clarity and in-depth coverage of annual Budget changes. Designed to facilitate a clear understanding of taxation, the well-structured textbook features a variety of revised exercises and worked examples. It is an indispensable practical guide and reference tool for both first-time taxation students and professionals applying the rules and regulations of the UK tax system.

This new edition has been thoroughly updated to reflect significant changes in taxation, including:

• The revised timetable for Making Tax Digital for income tax
• Abolition of the furnished holiday lettings tax regime
• First year allowances extended
• Increased HMRC interest rates
• National Insurance Contributions increased for employers
• Capital gains tax rates increased
• Capital gains tax investors' relief lifetime limit reduced
• VAT charged on private school fees
• Inheritance tax domicile test replaced by long-term residence test
• Inheritance tax business and agricultural property reliefs reduced
• Abolition of remittance basis

• Introduction of foreign income and gains (FIG) tax regime
  This text will be of value to both undergraduate and graduate students of accounting and finance, and will be particularly useful for students preparing for the following examinations:

  ICAEW Certificate Level, Principles of Taxation; ACCA Applied Skills Level, Taxation; ACCA Technician Scheme, Foundations in Taxation; CIPFA PQ, Taxation; CIPFA PAQ, Tax and Law; AAT Professional Diploma, Personal Tax and Business Tax; ATT Certificates, Personal Taxation and Business Taxation; AIA Professional Level 1, Taxation; IFA Personal Taxation, Business Taxation.

  Additionally, a free-to-access Companion Website features opportunities for extra practice, chapter appendices and a range of useful links to explore UK taxation rules and the tax system further.

  Autorentext

Alan Melville FCA, BSc, Cert. Ed. is a best-selling author. Previously a Senior Lecturer at Nottingham Trent University, he has many years experience of teaching accounting and financial reporting.

Inhalt

Part 1 Income Tax and National Insurance

1. Introduction to the UK tax system
2. Introduction to income tax
3. Personal allowances
4. Payments and gifts eligible for tax relief
5. Income from property
6. Income from savings and investments
7. Income from employment (1)
8. Income from employment (2)
9. Income from self-employment: Computation of income
10. Income from self-employment: Allocating profits to tax years
11. Income from self-employment: Capital allowances
12. Income from self-employment: Trading losses
13. Income from self-employment: Partnerships
14. Pension contributions
15. Payment of income tax, interest and penalties

16. National Insurance contributions
    Part 2 Capital Gains Tax

17. Introduction to capital gains tax
18. Computation of gains and losses
19. Chattels and wasting assets
20. Shares and securities
21. Principal private residence

22. CGT reliefs
    Part 3 Corporation Tax

23. Introduction to corporation tax
24. Corporate chargeable gains
25. Computation and payment of the corporation tax liability
26. Corporation tax losses
27. Close companies and investment companies

28. Groups of companies and reconstructions
    Part 4 Miscellaneous

29. Value added tax (1)
30. Value added tax (2)
31. Inheritance tax

32. Overseas aspects of taxation
    Part 5 Answers

    Index