St James's Place Tax Guide, 2009-2010 2009-2010

The St James's Place Tax Guide is a long-established, annual, practical and user-friendly guide which explains in simple terms how the UK tax system works and how best to minimise tax liabilities. It is designed both for private individuals needing advice on self-assessment and tax saving, and for professionals needing to check the latest rules. Now in its 38th edition, this year's guide is fully updated, reflecting the 2009-2010 tax system and the important changes announced for future years. Tax changes for the year are highlighted in the opening chapter, whilst the closing chapters give updated tax saving hints and tax tables. This new edition includes: * Income tax rate changes - 50% additional rate from 2010-11 * Personal allowance changes - withdrawn for higher incomes from 2010-11 * Capital allowance - temporary 40% first year allowance * Pensions relief from 2011-2012 restricted for those with taxable income of at least GBP150,000 with rules to counter 'forestalling' * Residential property stamp duty 'holiday' extension for acquisitions up to GBP175,000 * Widespread anti-avoidance measures * VAT reduction to 15% until 31 December 2009 and changes to cross-border services rules * Foreign aspects, including dividends, offshore funds, profits and losses, personal relief and remittances