Taxation Finance Act 2023

Taxation, 29th edition by Alan Melville, is the definitive, market-leading text on UK taxation, updated with the Finance Acts 2023. It provides comprehensive coverage of the changes introduced by the annual Budget and is a core textbook for students studying taxation.

Format: Paperback / softback
Length: 624 pages
Publication date: 31 July 2023
Publisher: Pearson Education Limited

Gain a comprehensive understanding of UK taxation rules and policies for 2023 with Taxation, 29th edition by Alan Melville, updated with the Finance Acts 2023. This definitive market-leading text is renowned for its comprehensive coverage of the changes introduced by the annual Budget, offering a clean and well-structured approach with a wealth of updated examples and exercises. Serving as a core textbook for students studying taxation for the first time, as well as a reference text that elucidates the UK tax system and taxation regulations, this popular guide is essential for anyone seeking insights into the field.

In this new edition, the book has been thoroughly updated to reflect the latest taxation changes, including:

Further delays to MTD for income tax: The implementation of Making Tax Digital (MTD) for income tax has been delayed, with the higher rate limit for income tax reduced.

Income tax higher rate limit reduced: The higher rate limit for income tax has been reduced, impacting individuals with taxable income exceeding £50,270.

Dividend allowance reduced: The dividend allowance has been reduced, affecting the amount of dividends that individuals can receive without paying tax.

Basis period rules for 2023-24: The basis period rules for calculating capital gains tax (CGT) have been updated for the 2023-24 tax year.

Spreading of transition profits: The rules for spreading of transition profits have been introduced, allowing businesses to spread the gain over a period of up to five years.

AIA £1m limit made permanent: The annual investment allowance (AIA) limit for capital investments has been made permanent at £1 million.

Pensions tax relief reforms: There have been reforms to pensions tax relief, including changes to the lifetime allowance and the annual allowance.

CGT annual exemption reduced: The annual exemption for capital gains tax has been reduced, impacting individuals with significant capital gains.

Corporation tax full expensing: The full expensing of capital expenditure for corporation tax has been introduced, providing a tax incentive for businesses to invest in capital assets.

R&D tax relief reforms: There have been reforms to research and development (R&D) tax relief, including changes to the rates and eligibility criteria.

Investment zones: Investment zones have been introduced as part of the government's economic stimulus package, offering tax incentives for businesses located in specific areas.

VAT aspects of the Windsor Framework: The VAT aspects of the Windsor Framework have been updated, including changes to the rules for cross-border transactions and the treatment of financial services.

This text is invaluable for both undergraduate and graduate students of accounting and finance, particularly those preparing for the following examinations:

ICAEW Certificate Level, Principles of Taxation: This examination covers the fundamental principles of taxation, including income tax, corporation tax, capital gains tax, and VAT.

ACCA Applied Skills Level, Taxation: This examination focuses on applying the principles of taxation to real-world scenarios and provides a practical understanding of taxation practices.

ACCA Technician Scheme, Foundations in Taxation: This examination is designed for students who are new to taxation and provides a foundational understanding of the tax system.

CIPFA PQ, Taxation: This examination is aimed at qualified accountants and covers advanced topics in taxation, such as tax planning, international taxation, and financial accounting.

CIPFA PAQ, Tax and Law: This examination combines taxation knowledge with legal principles and provides a comprehensive understanding of the tax system.

AAT Professional Diploma, Personal Tax and Business Tax: This diploma covers personal and business taxation, including tax planning, compliance, and reporting.

ATT Certificates, Personal Taxation and Business Tax: These certificates provide a foundation in personal and business taxation and are suitable for individuals who are new to the field.

AIA Professional Level 1, Taxation: This professional qualification covers the fundamentals of taxation, including income tax, corporation tax, and VAT.

IFA Personal Taxation, Business Taxation: This qualification focuses on personal and business taxation, including tax planning, compliance, and reporting.

Additionally, a free-to-access Companion Website at go.pearson.com/uk/he/resources offers additional practice opportunities, chapter appendices, and a range of useful links to explore UK taxation rules.

By leveraging the comprehensive coverage and expert insights provided in Taxation, 29th edition, you can gain a deep understanding of UK taxation laws and policies, enabling you to navigate the complex tax landscape with confidence and proficiency.

Weight: 1182g
Dimension: 190 x 247 x 35 (mm)
ISBN-13: 9781292461083
Edition number: 29 ed