The basis of your tax liability

Walter Sinclair and Barry Lipkin

Chapter Chapter 2 in St. James’s Place Wealth Management Tax Guide 2012–2013, 2012, pp 7-12 from Palgrave Macmillan

Abstract: Abstract Individuals, partnerships, estates, trusts, companies, and certain other organisations that are resident in the UK are taxable on their income arising here. They are also liable on income arising abroad subject to the rules outlined later in this book. The taxation of the income of individuals is covered first; partnerships, estates, trusts and companies being dealt with in later chapters. The UK income of non-resident individuals, companies and other entities may also be subject to tax here (19.1). Similarly, capital gains tax is payable on certain capital profits made by UK residents anywhere in the world (20.3). Non-residents, however, are not always liable to UK capital gains tax.

Keywords: Capital Gain; Capital Expense; Share Dealer; Total Taxable Income; Capital Allowance (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1057/9781137290809_2

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