What Everyone Needs to Know about Tax: An Introduction to the UK Tax System

by James Hannam (Author)

You are paying much more in tax than you think you are

What Everyone Needs to Know About Tax takes an entertaining and informative look at the UK tax system in all its glory to show you just how much you pay, how the money is collected and how it affects ordinary people every day. Giving context to recent controversies including the Panama Papers, tax avoidance by multinationals, Brexit and more, this book provides a straightforward explanation of tax and the policy behind it for non-specialists — no accounting or legal knowledge is required. The system's underlying logic is illustrated through three 'golden rules' that explain many of the UK tax regime's oddities, and the discussion focuses on the way things are rather than utopian ideas about how they might be. Case studies show how the VAT on a plumber's bill all adds up; why fraudsters made a movie to throw HMRC off their scent; how a wealthy couple can pay so little tax on a six-figure income; and the way tracing the money you paid for your iPad sheds light why the EU is demanding Apple pay billions extra in tax.

Ever the political battlefield, tax is too important for you to rely on media hype for information. It affects everyone, every day, and it pays for voters and taxpayers to know more. This book leaves aside technical detail and the arcana of the tax code to give you a real-world look at how tax works.

Learn about the many ways that the tax system separates us from our money
Discover how Brexit could change the way we pay taxes
Understand how changing tax policy affects people's everyday lives
See through the rhetoric surrounding controversies in the media
With tax, we have to admit that there are no easy answers. No one enjoys paying them, but without them, the Government would shut down. Seeing through politicians' cant and superficial press coverage is critical for your ability to make the decisions that benefit you; What Everyone Needs to Know About Tax gives you the background and foundational knowledge you need to be a well-informed taxpayer.

WHAT THE TAXMAN HOPES YOU WON'T FIND OUT

What Everyone Needs to Know about Tax is an entertaining and informative guide to the tax system in the United Kingdom. This easy to understand explanation of tax and tax policy is written for the layman, with no accounting or legal background necessary. It lifts the fog surrounding the latest political arguments and public controversies over taxation, including the effect of Brexit, whether multinational companies are unfairly avoiding their dues, the special privileges of ultra-wealthy non-doms and more.

Tax expert and historian James Hannam gives insight on every aspect of the tax system, along with practical case studies illustrating how taxation functions in the real world. He shows how taxes are kept as invisible as possible, why there are so many different taxes and how they almost all end up being paid by ordinary people. Having read this book, you will:

Find out how much of your money goes in taxes without your noticing it
Understand the logic behind the wrinkles and foibles in the UK tax system
See through the cant of politicians and the media on the subject of tax
Above all, this book shows how, when it comes to tax, there are no easy answers. Make yourself a better-informed voter and taxpayer by reading What Everyone Needs to Know about Tax!

About the Author
JAMES HANNAM, PHD, has spent twenty years advising clients on every aspect of the UK tax regime while working for firms including EY, Freshfields, and KPMG.