The annual St. James's Place Tax Guide is a reliable, practical and user-friendly guide which explains in simple terms how the UK tax system works and how best to minimise tax liabilities. It is designed both for private individuals needing advice on self-assessment and tax saving, and for professionals needing to check the latest rules. Now in its 41st edition, this year's guide is fully updated to reflect the 2012-2013 tax system and the important changes announced for future years. Tax changes for the year are highlighted in the opening chapter, and updated tax-saving hints and tax tables in the closing chapters. Some of the tax changes included in this edition are: * Personal allowance for 2012-13 increased to £8,105 but Income tax basic rate reduced to £32,245 * Reduction in 50 per cent additional rate to 45 per cent from 2013-14 * Age allowance to be restricted and ultimately removed * Child benefit removal for parents with higher incomes * Corporation Tax main rate changes * Reformed controlled foreign companies scheme * Widespread anti-avoidance provisions * Inheritance tax nil rate band remains at £325,000 until 5 April 2015, then indexed by the CPI * More changes to new rules for determining UK Resident status * Changes to the scope of VAT * Taxation of life insurance policies.