2017 TAXguides

In TAXguide 19/17, David Kirk provides a step by step explanation of how to calculate the high income child benefit charge and highlights the potential pitfalls. Read a summary here, Tax Faculty members can download the full guide.

In TAXguide 18/17, Caroline Miskin explains what special relief is, when it might apply and the conditions that need to be met to make a formal claim. Read a summary here, Tax Faculty members can download the full guide.

In TAXguide 15/17, the Tax Faculty has published correspondence between Emma Chamberlain and HMRC relating to the availability of business property relief (BPR) in complex group structures. It extends the guidance offered by TAXguide 05/11 on inheritance tax and BPR.

An explanation of the legal requirement for financial institutions and professionals to write to clients to whom they have given advice on offshore matters. The guide outlines the rules, suggests how you might comply and provides a draft client letter. Tax Faculty members can download the full guide.

This TAXguide considers the tax treatment of loans at non-market rates of interest to companies. This follows changes to the accounting rules introduced in FRS 102, which apply to accounting periods beginning on or after 1 January 2015, and the impact of changes to the loan relationship rules. Read a summary here, Tax Faculty members can download the full guide.

Reforms to the taxation of non UK domiciled individuals resident in the UK are set to change from 6 April 2017. TAXguide 05/17 outlines practical situations where the protected status of a trust set up before an individual was deemed to be domiciled in the UK might be affected.

In TAXguide 04/17 - Offshore trust changes, Sue Moore, technical lead for private client tax matters in the Tax Faculty, provides information on the implications of changes to income tax legislation published on 26 January 2017. In particular the guide offers more details on transfer of assets and settlements legislation and has been created with input from HMRC.