Daily Mail Tax Guide 2012/2013 by Jane Vass
| Daily Mail Tax Guide 2012/2013 by Jane Vass | |
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| Category: Business and Finance | |
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Reviewer: Peter Magee
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| Summary: The Guide that advises you how to reduce your tax liabilities and does it in plain English. Highly recommended. | |
| Buy? Yes | Borrow? Yes |
| Pages: 400 | Date: April 2012 |
| Publisher: Profile Books | |
| ISBN: 978-1846686290 | |
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In its annual report H M Revenue and Customs announced that it will shed many more staff by the year 2015 so it's now more important than ever to ensure that you are paying the right amount of tax and that you are claiming all the allowances and reliefs to which you are entitled. I spent most of my working life in HMRC and the dedication and professionalism of the staff is second to none but when resources are spread more thinly it's difficult to say that something will not give. You can, of course, go to the HMRC site where you will find a lot of help and information - and it's free. You might wonder then, why you should buy a book which, on the face of it, does the same job?
The answer is actually very simple. HMRC's function is to collect the correct amount of tax. It's no part of it's job to advise you on how you can reduce - quite legitimately - your tax liabilities. You might think that tax saving of this nature is the prerogative of the very rich, but you'd be wrong. Most households are likely to benefit from the useful hints and tips which are delivered in plain English. What's more the guide is bang up to date including all the 2012 Budget changes and how they will affect you.
Talking of these changes, much was made in the media of the 'Granny Tax' which took away the higher personal allowance available to those on limited incomes over the age of sixty five. More, if it's possible was made of the reduction in the top rate of Income Tax which benefited those with the most income. There was little emphasis on the fact that the Budget would bring even more people into the 40% tax rate, neutralising the benefit of the increased personal allowance for those people. This book will show you how to plan ahead to save tax.
At the other end of the financial scale, there's a useful guide which will establish whether or not you're entitled to tax credits. Everyone can check that their notice of coding is correct (and these are, I'm afraid, a regular source of errors) and there's an excellent guide to completing your Tax Return as painlessly as possible.
It's jargon-free. It covers the straightforward as well as the complex and I'll confess that I went through it looking to find something - anything - which was incorrect. I couldn't find anything!
I'd like to thank the publishers for sending a copy to the Bookbag.
If you'd like to read about tax and the very rich we can recommend Treasure Islands: Tax Havens and the Men who Stole the World by Nicholas Shaxson.
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