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Income Tax Memo 2019-2020

A handy, current and user-friendly online guide to income tax...

In a nutshell

Income Tax Memo helps ensure optimum tax efficiency. It provides full coverage, concisely explaining the legal and practical implications of income tax planning. Continually updated, it allows you to stay on top of all legislative changes, new case law, HMRC material and other sources.

In detail

Income Tax Memo deals with all aspects of income tax. It covers:

  • Tax on different types of income:
    • Business income
    • Employment income
    • IR35
    • Savings income
    • Property income
    • Pensions and state benefits
    • Overseas income
    • Special topics such as trusts and estates, farmers, authors and Lloyds
  • NIC, PAYE and CIS
  • Tax-saving measures and deductions
  • Calculating taxable income and tax liability
  • Compliance and enforcement

Income tax planning can be frustrating and complicated. That's why our Income Tax Memo is written in an easy-to-understand way and crammed with real-world examples. It quickly helps you find all the available reliefs so you can lower your income tax bill.

We've created this Memo especially for... 

Business owners and all taxpayers that want to:

  • Reduce their income tax bill and ensure optimum tax efficiency, all in a legally safe way

Accountants and tax advisors that want to:

  • Quickly ensure their clients pay the least amount of income tax legally possible

This edition has been fully updated for Finance Act 2019 and covers... 

  • The increase to the AIA and a detailed analysis of the new structures and buildings allowance
  • The latest worker status cases and CEST reform
  • The 2019 contractor loan charge and HMRC settlement terms
  • The extension to assessment time limits for offshore matters
  • The introduction of Help-to-save accounts
  • The impact of Welsh residence on income tax and PAYE codes

You'll get the following extras with your Memo subscription... 

E-mail alerts

  • Keep you fully up to date with the latest developments
  • Deliver important news directly in your mailbox
  • Link straight to updated Memo paragraphs

In this Memo you'll read about...

Table of contents

Part 1: Scope

Chapter 1: General scheme of income tax

Chapter 2: Taxable persons

Chapter 3: Exempt income

Part 2: Taxpayer status

Chapter 1: Workers

Chapter 2: Residence and domicile

Part 3: Business income

Chapter 1: What is a business activity?

Chapter 2: Basis periods

Chapter 3: Computation of trading income

Chapter 4: Special schemes

Chapter 5: Capital allowances

Chapter 6: Ceasing to trade

Chapter 7: Partnerships

Part 4: Employment income

Chapter 1: Earnings

Chapter 2: Lump sum payments

Chapter 3: Earnings provided through third parties

Chapter 4: Expenses

Chapter 5: Benefits in kind

Chapter 6: Share-related employment income

Part 5: Savings

Chapter 1: Tax-exempt income from savings and investments

Chapter 2: Dividends

Chapter 3: Interest

Chapter 4: Other forms of investment income

Part 6: Property income

Chapter 1: UK property income

Chapter 2: Special situations

Part 7: Pensions and benefits

Chapter 1: Pension income

Chapter 2: State benefits and tax credits

Part 8: Other

Chapter 1: Miscellaneous income

Chapter 2: Life assurance policies

Chapter 3: Offshore funds

Chapter 4: Intellectual property

Chapter 5: Pre-owned assets

Chapter 6: Anti-avoidance

Part 9: Losses

Chapter 1: Introduction

Chapter 2: Trading losses

Chapter 3: Other losses

Part 10: Tax-saving measures

Chapter 1: Qualifying loan interest

Chapter 2: Gifts to charity

Chapter 3: Registered pension provision

Chapter 4: Enterprise Investment Scheme

Chapter 5: Seed Enterprise Investment Scheme

Chapter 6: Social Investment Tax Relief

Chapter 7: Venture Capital Trusts

Chapter 8: Community Investment Tax Relief

Chapter 9: Gifts to the nation

Part 11: Collection at source

Chapter 1: Deduction of tax at source

Chapter 2: Pay As You Earn

Chapter 3: National Insurance contributions

Chapter 4: The Construction Industry Scheme

Part 12: Computation

Chapter 1: Taxable income

Chapter 2: Tax liability

Chapter 3: Payment tax

Chapter 4: Repayment interest

Part 13: Compliance

Chapter 1: Notifying chargeability

Chapter 2: Tax returns

Chapter 3: Amendments to returns

Chapter 4: Claims and elections

Chapter 5: Record keeping

Part 14: Enforcement

Chapter 1: Assessments

Chapter 2: Penalties

Chapter 3: Self-assessment enquiries and determinations

Chapter 4: Investigations and other HMRC powers

Chapter 5: Clearances, reviews and appeals

Chapter 6: Disclosure of tax avoidance schemes

Part 15: International

Chapter 1: UK taxation of foreign income

Chapter 2: UK taxation of non-domiciliaries

Chapter 3: Double tax relief

Chapter 4: UK taxation of non-residents

Part 16: Particular situations

Chapter 1: Athletes and sportspeople

Chapter 2: Carers

Chapter 3: Deceased estates

Chapter 4: Farmers

Chapter 5: Lloyd's underwriters

Chapter 6: Trusts and settlements

Chapter 7: Authors and artists

General information


Click on the image to browse through a content sample of the Memo...

You can choose from the following subscription options...

Digital only

  • 24/7 access to your Memo online, featuring the full content of the book
  • 24/7 access to your Memo via the iMemo app, whether you're online or not
  • E-mail alerts to keep you fully informed on the latest income tax developments

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For a subscription until June 2020
Prices exclude VAT

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