National Taxation for Property Management and Valuation

There are many heavy tomes on taxation, but this isn't one of them! This is an authoritative introduction to taxation in the property world, written specifically for surveyors, valuers, estate agents and property developres who require a basic understanding of the subject. It provides a unified and up-to-date account of the UK taxation system, so far as it affects land, buildings and legal rights in property. Coverage includes the 1989 Finance Act and 1990 budget. The reader is first introduced to the broad concepts of taxation before the structure and administration of the UK taxation system are examined. Specific taxation measures are then discussed and both income and capital taxes are considered together with an appraisal of the means by which interests in land and valued, for the purpose of determining liability and taxation. Betterment recompensement is given special attention as is revenue law and valuation methods. Their effects on the appraisal of land and buildings are assessed. Alistair MacLeary highlights specific tax measures and leading cases with particular implications for land and property throughout. *extensive use of real-life examples *aimed directly at surveyors *incorporates the 1989 Finance Act

ISBN 0419153209   Pages 216 ISBN13 9780419153207 (What's this?)   Volumes 1 Publisher Taylor & Francis Ltd   Weight (grammes) 310 Imprint Spon Press   Published in London Format Paperback   Height (mm) 234 Publication date 22 Nov 1990   Width (mm) 156 Library of Congress 90034308   Spine width (mm) 11 DEWEY 336.2220941   Academic level Postgraduate, Professional / Scholarly DEWEY edition DC20

Part 1 The British tax system: purpose and forms of tax; regulations governing taxation; statutory interpretation; organization of the Inland Revenue; returns of income; notice of assessment; appeals. Part 2 Taxation of income: income tax; forms of direct taxation; UK income tax; corporation tax; income from land. Part 3 Capital allowances: basis period; plant and machinery; industrial buildings; hotels; buildings in enterprise zones; dwelling houses let on assured tendencies; mines and oil wells; agriculture and forestry. Part 4 Taxes on expenditure: value added tax; supplies of interests in land; supplies of construction; value added tax and land value; Finance Act 1989; stamp duty. Part 5 Property chargeable; potentially exempt transfers; amount of tax; grossing-up; tapering relief; indexation; excluded property; exempt transfers; reliefs calculation of the tax. Part 7 Capital gains tax: occasions of charge; disposals; rate of tax; persons liable to tax; indexation; assets; exemptions; main private residence; business assets; gifts; chattels; wasting assets; leases; the concept of recoupment; legislative attempts to recoup betterment; development land tax; the taxation scheme; the basis of calculation; total disposal; part disposal; leases and reversions. Part 8 Land valuation: valuation and the law; market value; interpretation of market value; professional practice and open market value; allowing for the effect of tax in valuations. Part 9 Taxeable situations and tax planning: interaction of taxes; leases; grant of head lease; grant of sub-lease; assignment of a lease; sale and leaseback; dealing and developing; taxation for dealing and developing. Appendices: inheritance tax tables; table sch. 3 Capital Gains Tax Act 1979; retail price index.

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