Daily Mail Tax Guide 2011/2012 by Jane Vass
| Daily Mail Tax Guide 2011/2012 by Jane Vass | |
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| Category: Business and Finance | |
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Reviewer: Peter Magee
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| Summary: A well-written and concise guide to keeping your tax affairs in order. Highly recommended. | |
| Buy? Yes | Borrow? Yes |
| Pages: 400 | Date: April 2011 |
| Publisher: Profile Books | |
| External links: Author's website | |
| ISBN: 978-1846684722 | |
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H M Revenue and Customs is now bigger than ever – it's taken on more work – but at the same time it's having to shed staff, many of them being the ones with experience and inevitably something will have to give. In the light of this the author rightly concludes that it's now more important than ever to keep a close eye on your tax affairs. Don't assume for example that your PAYE coding is correct.
The guide starts with a very useful summary of changes resulting from the emergency budget following the election of the coalition in 2010. It's concise and well-presented. The remainder of the Guide is set out in three sections:
- Part one gives an introduction to the various taxes, how tax is collected, troubleshooting tips and where to get help.
- Part two covers planning to save tax. Each chapter covers particular situations – few people will need any more information than is supplied here. It is worth noting that there are good cross references to other benefits and taxes – for instance foreign earnings may be free of UK tax but might impact on Capital Gains Tax and Inheritance Tax. Tax credits, especially, could be affected.
- The third section includes a very useful guide to form filling but with special emphasis on the Tax Return and its supplementary pages.
Top tips appear at the start of each chapter. They're succinct, helpful and I'd be surprised if they didn't save you at least the cover price of the book and possibly a lot more. The book is essential reading for the employed, self-employed, retired and those with investment income. It contains good, practical advice throughout and the author has the gift of explaining complex tax issues in language the layman can readily understand. Frankly I'm in awe of anyone who can explain, for example, the accrued income scheme without resorting to jargon and in a format which anyone can understand.
The fact file at the end of the book includes a very useful and comprehensive list of HMRC leaflets, help sheets and other resources as well as all the addresses you could ever need to keep your tax affairs on the straight and narrow.
I'd like to thank the publishers for sending a copy to theBookbag.
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