Weekly tax brief | 7 November 2018

When is a business property investment not an investment?
Jackie Hall 
Understanding where the line is to be drawn between investment and non-investment assets is critical to securing inheritance tax Business Property Relief. Many taxpayers have tried to argue that their business property qualifies for the relief but have failed. However, a recent Upper Tribunal decision provides a glimmer of hope for taxpayers and their advisers.

Penalties imposed in higher income child benefit charge cases could be refunded
Mike Down and Sarah Saunders
A surprising change of approach relating to penalties in higher income child benefit charge cases is welcome news. Is it too much to hope that this softer stance from HMRC will extend to penalties arising in other unexpectedly complex tax areas?

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