" One can confidently assert that a student should be able to tackle any tax exam after studying from this book." ACCA Students' Newsletter.Taxation has established itself as a reliable and comprehensive guide for students taking a first level course in the subject. This seventh annual edition brings the book completely up-to-date in accordance with the provisions of the Finance Act 2001. New topics covered in this edition include the children's tax credit, farming losses, limited liability partnerships, stakeholder pensions, the new rules on business assets taper relief, the abolition of withholding tax on intra-UK corporate payments and changes to the system of double taxation relief for companies.Explanations are clear and supported by numerous worked examples. Each chapter ends with a set of exercises that thoroughly test the reader's understanding of the topics introduced in the chapter. The book also contains four sets of review questions, one at the end of each part, drawn from past examination papers of the professional accounting bodies. The solutions to most of the exercises and review questions are included in the final part of the book.The book will be of value to both;Alan Melville FCA BSc Cert. Ed. Is a Senior Lecturer with many years' experience of teaching taxation.