Tolley's Tax Computations

This is a comprehensive manual of tax computations illustrating the practical operation of income tax, corporation tax, capital gains tax, inheritance tax and VAT. The index, tables of statutes and alphabetical format enable the reader to find the computation quickly and easily. It may be used independently or in conjunction with "Tolley's Main Tax Annuals", to which sections and chapters correspond.;This edition is updated to include 1994/95 tax rates and allowances, the provisions of the Finance Act 1994 and other developments. It includes a number of new examples on the current year basis of assessment for Schedule D, including rules for opening and closing years, changes of accounting date, overlap relief, transitional rules, capital allowances, trading losses and partnerships. It also covers the restriction of CGT indexation allowance with related transitional provisions, the new method of giving relief for married couple's allowance and mortgage interest, enterprise investment scheme, reinvestment relief, benefits (cars, beneficial loans) and other topics.