U.K.

Partnership Taxation 2014/15

By Sarah Laing
Bloomsbury Professional (formerly Tottel Publishing) October 2014

Specifications

ISBN-13
9781780434421
Publisher
Bloomsbury Professional (formerly Tottel Publishing)
Publication
October 2014
Format
Paperback , 378 pages
Jurisdiction
U.K. ? Countri(es) for reference only

Details

Partnership Taxation 2014/15 offers a comprehensive treatment of the law and best practice relating to the taxation of partnerships in the UK, including help in ascertaining whether a partnership does in fact exist.

The key changes you need to understand

With significant legislative changes to this area in 2014 following the government clampdown on anti-avoidance, it is essential that all tax practices are equipped with the very latest information.

This updated edition incorporates the results of the major partnerships review and Finance Act 2014 to provide detailed coverage of:

  • New rules for salaried members of LLPs: How the measures to change the treatment of members, from partners to employees, for both income and corporation tax purposes will affect LLP clients
  • New rules on mixed membership partnerships: Top tips on advising clients of the most tax-efficient way to run their partnerships and whether restructuring is necessary

 

All the hot topics in one volume

This popular title also features new content on:

• Changes to the pensions regime and the resultant impact on partnership decisions
• New rules to prevent the disposal of assets or income streams by or through a partnership to secure a tax advantage
• New rules for transferring unused personal allowances from April 2015
• Temporary increase in the annual investment allowance (AIA)
• The Scottish rate of income tax expected to take effect from April 2016

 

New quick-reference structure

This accessible resource has a user-friendly structure with ‘signposts’ at the beginning of each chapter to summarise key topics and ‘focus points’ throughout to highlight important issues. The commentary is extensively cross-referenced to legislation, case law and HMRC practice, and numerous worked examples have been included to illustrate their practical implications.

 

Who should buy this book?

Tax practitioners, advisers and accountants for small to medium-sized firms will find this book invaluable in their day-to-day practice. Those studying for the Chartered Tax Accountant (CTA) examination will also benefit from the detailed guidance within this handbook.

Table of Contents

1. Introduction
2. Computation of Income and Gains
3. Taxation of Income and Gains 
4. Current Year Basis 
5. Partnership Changes 
6. Change of Accounting Date 
7. Calculation of Tax Payable on Partnership Profits 
8. Tax Credits 
9. Mergers and Demergers 
10. Capital Allowances 
11. Losses 
12. Joint Ventures and Expense Sharing Arrangements 
13. Spouses, Civil Partners, and Family Partnerships 
14 Capital Gains 
15. Entrepreneurs' Relief 
16. Annuities to Retired Partners 
17. Capital Gains Tax – Roll-over and Hold-over Relief on Replacement of Business Assets 
18. Transfer of a Partnership to a Company 
19. Partnerships which include a Corporate Partner and Service Companies 
20. Limited Partnerships 
21. Limited Liability Partnerships 
22 Overseas Matters 
23. Partnership Tax Returns, Enquiries and Administration 
24. Providing for Pensions and Life Assurance 
25. Inheritance Tax 
26. National Insurance and Stamp Duty Land Tax 
27. Value Added Tax 
28. Provision for Taxation in Partnership Accounts 
29. Partnerships and IR35 
30. Construction Industry Partnerships 
Appendices
Index 

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