Taxation: Theory and Practice 2nd Edition

Part 1 gives students a grounding in the economic theory of taxation. The aim is to provide a basic understanding of theory to build confidence in the subject and encourage further exploration of the end-of-chapter readings. The practical aspects of assessing liability to income tax, capital gains tax, corporation tax and VAT are covered in Parts 2 to 5. While the chapters in these Parts give the students plenty of opportunity to practise tax computations, the `why’ as well as the `how’ is explained through examples and references to revenue case law. Tax planning opportunities are also highlighted. Part 6 examines the PAYE system and the administrative organisation of the Inland Revenue. Self assessment of income and capital gains tax and the move towards corporate self assessment are covered in this Part.

Review Questions are provided at the end of Part 1, and a range of Practice Questions at the end of each of the other Parts. To enable the students to practise their computational skills further, new self test questions have been included, where appropriate, with suggested solutions given at the end of the book.

An accompanying Instructor’s Manual is available to lecturers.

Taxation: Theory and Practice is aimed at undergraduates taking an option in taxation in their second or third year of study, although professional accountancy students of the ACCA, CIMA, ATT and ICAEW should also find the book a valuable learning resource.