Erratum Page

Despite the best efforts of the authors and the production team, errors unfortunately do sometimes slip through the system and get into the final printed text. Where these are brought to our attention we will list them here for your information.

Current errors of which we are aware:

• Chap 4 s5 p22 - text amendment needed:
  "The full amount of the PAA may be claimed where the total income is not greater than £20,900. Total income includes any encashment of a single premium insurance bond, before top slicing relief, but does not include ISA income (see Chapter 6)."
  Should read:
  "The full amount of the PAA may be claimed where the adjusted net income is not greater than £20,900. Adjusted net income is the taxpayers net income less the gross amount of any Gift Aid donations or pension contributions."

• Chap 4 s 5 p22 - Example K. Solution:
  Delete words "Statutory total income" that are not necessary as part of this computation.

• Chap 10 - Student self testing question 2, p84 - Mr S. Eason. Solution:
  "Patent royalties (treat as charge)".
  Should read:
  "Patent royalties (Allowable as an expense if wholly and exclusively for business purposes. Otherwise treat as an allowable payment deducted from total income in the main income tax computation)".
  

• Chap 14 - Minor text changes (to correct new section code references to ITA2007 and remove references in two places to Statutory Total Income as a term no longer used):
  See revised Chapter 14 (download from here).

• Chap 17 s 9 p155 - minor text change:
  "All earning up to at least £84.00 will be entitled to the standard rate."
  Should read:
  "All earning at least £87.00 will be entitled to the standard rate."

• Income Tax end of section questions without answers - p163. Question 8 John Hemp.
  Requirement currently reads: "Assuming John claims loss relief under s380 ICTA 1988, calculate the loss relief available which is most beneficial to John."
  Should read:
  "Assuming John claims loss relief under s64 ITA 2007, calculate the loss relief available which is most beneficial to John."

If you spot what you suspect may be an error in this title that is not listed above please can you email the details to rowes-error@fiscalpublications.com.