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Books > Business & Economics > Finance & accounting > Finance > Public finance > Taxation
This title gives the reader authoritative guidance on the
legislation dealing with residence, principally the Statutory
Residence Test which defines for tax purposes whether or not an
individual is resident in the United Kingdom. The author, Jonathan
Schwarz, is a Barrister at Temple Tax Chambers in London and is
also a South African Advocate and a Canadian Barrister. His
practice focuses on international tax disputes as counsel and as an
expert and advises on solving cross-border tax problems. While the
Statutory Residence Test has been in place since 2013, there are
several important developments driving this updated edition as
follows: - A new chapter reflecting new legislation bringing in
higher rates of SDLT payable by non-UK-resident purchasers from 1
April 2021. - Overall change in the UK taxation as it relates to
residents and non-residents, and the general codification of this
area of the law. - Updated commentary in line with the OECD
multilateral instrument on BEPS and residence for tax treaties. -
New commentary on the operation of the Statutory Residence Test in
light of COVID-19. Commentary on a number of important new cases:
HMRC v Embiricos [2020] UKUT on disputes over residence and
domicile Henkes v HMRC [2020] UKFTT information demands re
residence and domicile Mackay v HMRC [2020] UK FTT re ordinary
residence The Appellant v The Revenue Commissioners 25 TACD 2019
(spliy year residence) P Panayi Accumulation and Maintenance Trusts
v HMRC [2019] UKFTT (trust migration)
Why are so many trapped in poverty, when others are grossly
well-off? Why are house prices continuously rising faster than
inflation? Why do people so often find themselves in jobs that give
them little sense of fulfilment? Why is a multi-national coffee
shop franchise not actually making its money from coffee. These
questions have confronted the UK economy for decades without
resolution by governments of the right or left. It is the failure
of economics, the author argues. Economists have long asserted that
three factors of production, land, labour and capital, lie at the
root of their subject. Yet in the development of the subject into
theories and practical applications there has been a thorough
analysis of labour and capital but a grievous omission of the
factor of land. This is reflected in the minimal place it holds in
modern textbooks, in popular discussion and political debate. Much
of the argument about major issues, like industrial policy, the
distribution of wealth and income and government policy reverts to
a polarised struggle between two antagonists, labour and capital.
The third factor, land, hides in the background unacknowledged yet
exerting a major influence on the outcome of the whole economic
process. What needs to change, the author argues, are deeply
embedded features, which have generally been established for a very
long time. They are principally the taxation system, the land
tenure system, and the banking system. Review copies and media
publicity is being sought as the subject matter of the book is very
topical - the general recognition that the system isn't working for
all.
VAT and Financial Services takes the reader through the relevant
legislation and case law, the legal concepts such as time and place
of supply, the distinction between goods and services, what is
taxable, and the interaction of these elements; examines the
consequences of outsourcing (through a detailed study of 10
significant cases); looks at the key issues facing financial
services and insurance; and then discusses the VAT cost sharing
exemption. Since the third edition, there have been significant
developments, including (most obviously) Brexit. The key VAT change
is that EU legislation is no longer primary legislation (although
many EU VAT principles, obligations and rights have been
'retained') and ECJ court decisions are, in general, no longer
binding although 'a court or tribunal may have regard to anything
done on or after exit day by the European Court, another EU entity
or the EU so far as it is relevant to any matter before the court
or tribunal' (European Union (Withdrawal) Act, 2018 s6(2)). Also,
the Court of Appeal decision in HMRC v Perfect [2022] EWCA Civ 330,
which is an excise duty case but more widely applicable, confirmed
that decisions from any referrals to the ECJ made before 31
December 2020 remain binding on the UK even if the decision is
issued after that date. In addition to this general change, there
have been some more specific changes, for example the changes to
the VAT (Specified Supplies) Order 1999, which now treats supplies
to persons in the EU in the same way as supplies to persons outside
the EU and some changes to the status of EU pension funds. A
further change has been to the status of Cost Sharing Groups, an
arrangement that allows persons who carry on certain activities to
form a group to share costs without creating sticking VAT. As Cost
Sharing groups are no longer available to the financial services
and insurance sectors, the chapter and appendix covering these have
been removed from this edition. Appendices include: contracts of
insurance; Lloyd's VAT arrangements; HMRC ABI partial exemption
guidance for the insurance sector; TOGC legal extracts; and the VAT
territory of the EU. Finance directors and finance controllers in
the financial services and insurance sectors and at those who
advise these sectors should all find the book helpful.
This book looks at the way we tax the poor in the United States,
particularly in the American South, where poor families are often
subject to income taxes, and where regressive sales taxes apply
even to food for home consumption. Katherine S. Newman and Rourke
L. O'Brien argue that these policies contribute in unrecognized
ways to poverty-related problems like obesity, early mortality, the
high school dropout rates, teen pregnancy, and crime. They show
how, decades before California's passage of Proposition 13, many
southern states implemented legislation that makes it almost
impossible to raise property or corporate taxes, a pattern now
growing in the western states. "Taxing the Poor" demonstrates how
sales taxes intended to replace the missing revenue - taxes that at
first glance appear fair - actually punish the poor and exacerbate
the very conditions that drove them into poverty in the first
place.
Tax policies are informed by principles developed in the tax theory
and policy literature. This Element surveys the policy lessons that
emerge from optimal tax analysis since the 1970s. This Element
begins with the evolution of tax policy principles from the
comprehensive income approach to the expenditure tax approach to
normative tax analysis based on social welfare maximization and
recounts key results from the optimal income tax analysis inspired
by Mirrlees and extended by Diamond to the extensive margin
approach. This Element also emphasizes analytical techniques that
yield empirically relevant concepts and show the equity-efficiency
trade-off at the heart of tax policy. We also extend the analysis
to recent literature incorporating involuntary unemployment, and
policies like welfare and unemployment insurance.
This book critically explores past and present principles of
central banking, and outlines a new framework for future
stabilization policy. Through compact and concise chapters, it
demonstrates why a constant long-term interest rate would be the
most beneficial target for monetary policy to follow. A novel set
of policy tools and institutional arrangements suitable to reliably
meet this target are developed. It is argued that the proposed
framework would be clearly superior to conventional policies in
preventing financial market crises, maintaining high employment,
and keeping the economy at or near potential. The merits and
shortcomings of alternative theories such as Modern Monetary Theory
are also discussed. This book will be relevant to researchers and
policymakers as well as professional investors, analysts, and
commentators of financial markets and the economy at large.
Death and taxes are our inevitable fate. We've been told this since
the beginning of civilisation. But what if we stopped to question
our antiquated system? Is it fair? And is it capable of serving the
needs of our rapidly-changing, modern society? In Daylight Robbery,
Dominic Frisby traces the origins of taxation, from its roots in
the ancient world, through to today. He explores the role of tax in
the formation of our global religions, the part tax played in wars
and revolutions throughout the ages, why, at one stage, we paid tax
for daylight or for growing a beard. Ranging from the despotic to
the absurd, the tax laws of the past reveal so much about how we
got to where we are today and what we can do to build a system fit
for the future. Featured on Stepping up with Nigel Farage 'An
important book for investors in gold and bitcoin' - Daniela
Cambone, Stansberry Research 'This entertaining, surprising,
contrarian book is a tour de force!' - Matt Ridley, author of The
Evolution of Everything 'In this spectacular gallop through
history, Frisby shows how taxation has warped, stunted and thwarted
human progress' - Mark Littlewood, Director General, Institute of
Economic Affairs 'Frisby's historical interpretation and utopian
ideas will outrage Left and Right' - Steve Baker, MP for Wycombe
and Member of the House of Commons Treasury Committee 'Fascinating
book which exposes the political and economic basis of tax. A must
read for those of us who believe in simpler, lower taxes' - Rt Hon
Liz Truss, MP for South West Norfolk, Secretary of State for
International Trade and President of the Board of Trade
This book provides insight into the generation of local money for
public education in the United States.
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