Publisher's Synopsis
A comprehensive manual of tax computations illustrating the practical operation of the four main UK direct taxes and value added tax. The extensive index, table of statutes and alphabetical format enable the reader to find the computation quickly and easily. May be used independently or in conjunction with Tolley's main tax annuals, to which sections and chapters correspond.;Fully updated to include Finance Act 1991 provisions and other developments, this edition includes the new three-year carry-back period for company losses, relief for individuals' trading losses against capital gains, low-interest or interest-free home loans given by employers to their employees, CGT surcharge on UK beneficiaries of overseas trusts, interaction of VAT capital goods scheme with the capital allowances system, interaction between personal pension plan contributions and retirement annuity premium mobile telephones, changes to mortgage interest relief etc.
