This comprehensive and popular annual textbook provides students of UK taxation with a thorough knowledge of: Income tax, Corporation tax, Capital gains tax, Inheritance tax and Value added tax. The book provides numerous illustrative examples of the practical operation of statute and case law and provides a wide variety of end-of-chapter questions for self learning. The book is aimed at students studying for both University degree programmes incorporating courses in UK taxation and also students studying tax courses for professional qualifications in accounting, banking, management and taxation. Past exam questions, with solutions, are provided in the text from the ACCA, CIMA and CIOT examinations. In this new edition - This edition has been updated for all those provisions of the 2009 Finance Act that relate to the tax year 2009/10. In particular, it incorporates all the new personal tax rates, allowances and reliefs, together with changes for self employed businesses, employment tax rule changes, new flat rate of CGT and VAT changes.