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This text on revenue law is designed for students taking the subject in the final year of their law degree course or more advanced courses. It covers income tax, capital gains tax, corporation tax and inheritance tax. The book's sections include material on international matters and the taxation of savings; attention has also been paid to the impact of EC law. It not only provides an account of the rules, but also includes citation of the relevant literature from legal periodicals and some discussion of or reference to the background material in terms of policy, history or other country's tax systems. The text has been derived from the relevant parts of Butterworth's "UK Tax Guide", supplemented by the background material which has been updated and rewritten.

Revenue Law 2 vols

Part 1 Introduction: definitions and theories; jurisdiction - the taxing power; sources; the setting of the tax system; the control of avoidance; tax systems and figures. Part 2 Income tax: income tax - basic concepts; the tax unit; taxation and social security; deductions and credits for taxpayer expenditure and losses; personal reliefs and credits; calculations; Schedule E - part 1 scope; Schedule E - part II emoluments; benefits in kind; Schedule E - part IV financial benefits - schemes to encourage employment participation; Schedule E - part IV TA1988 ss.153 and 154; Schedule E - part VI expenses; business income - part I scope; business income - part II basis of assessment and loss relief; business income - part III principles and receipts; business income part IV trading expenses; business income - part V timing and trading stock (inventory); capital allowances, income from land in the United Kingdom - Schedule A; interest and premium, bond and discount - Schedule D, case III; annuities and other annual payments - Schedule D, case III; Schedule D, case VI; trusts; death and estates; income splitting - arrangements and settlements. Part 3 Capital gains tax: introduction and policy; structure and elements; assets; disposals (1) general; disposals (2) gifts, bargains not at arm's length and other gratuitous transactions; leases; options; death; trusts; shares and securities; CGT and business; computation of gains. Part 4 Corporation tax: corporation tax - introduction history and policy; structure; distributions and Schedule F; computation (1) - general rules; computation (2) - accounting rules for financial transactions; groups and consortium companies - general; groups and consortium companies - capital gains; demergers; close companies. Part 5 Charities: charities. Part 6 Savings: savings (1) - favoured methods; savings (2) investment intermediaries; savings (3) pensions. Part 7 Anti-avoidance: anti-avoidance - special provisions. Part 8 International: international tax - prologue and connecting factors; enforcement of foreign revenue laws; UK residents and foreign income; source - the non-resident and the UK tax system; controlled foreign companies resident in low tax areas; capital gains; relief against double taxation - unilateral tax credit; double taxation - UK treaty relief. Part 9 Inheritance tax: inheritance tax - introduction; transfers of value by disposition; death; gifts with reservation; settled property - introduction; trusts with interests in possession; trusts with no interest in possession; favoured trusts; companies; exempt transferees - conditions and allocation where partly exempt; particular types of property; valuation; accountability and administration; incidence of tax; international.