Tax tips newsletter for professionals

Since its introduction in 2013, the high-income child benefit charge (HICBC) has caused confusion – not least as to whether it was a tax. 

Richard Curtis looks at the high-income child benefit charge, which continues to cause confusion.

This article examines whether effecting sales of shares quoted on a recognised Stock Exchange (excluding shares traded on the alternative investment market) soon after death is advisable for inheritance tax (IHT) purposes (IHTA 1984, s 178).

Malcolm Finney highlights the IHT consequences where quoted shares are sold soon after death.

Currently, flight MH370, carrying 227 passengers and 12 crew, which vanished en route from Kuala Lumpur to Beijing on 8 March 2014, is still lost. After ten years without being found, Malaysia is now to continue the search, according to the Malaysian Transport Minister. 

Jon Golding looks at the inheritance tax implications when people die in disastrous circumstances.

Andrew Needham looks at the difference between zero-rated and exempt supplies and its effects on input tax recovery.

The basic rule for VAT is that everything is subject to VAT at the standard rate unless the legislation makes an exception for it. 

Mark McLaughlin reviews two recent important tax cases:

An employee may have the use of a company vehicle – this may be a company car, or a van that they use for work. Where the vehicle is available for private use, in most cases, the employee will be taxed on the resulting benefit. If the employer also meets the cost of fuel for private journeys, a further tax charge may arise.

Sarah Bradford looks at the changes to the taxation of company vehicles over the next few years.

Tax often risks being overlooked in attempts to reach a commercial settlement. However, tax will usually be relevant for one of two reasons. First, sums received in settlement are usually subject to tax in the hands of the recipient. Second, the tax treatment of the sums received as part of the settlement may influence the amount of the settlement itself. In this respect, parties paying compensation often need advice as much as those receiving it.

Alex Spencer considers the tax treatment of compensatory payments, the potential impact of tax on settlement discussions, and what advisers should be looking out for when clients either pay or receive compensation towards resolving their disputes.