swarb.co.uk - law index
These cases are from the lawindexpro database. They are now being transferred to the swarb.co.uk website in a better form. As a case is published there, an entry here will link to it. The swarb.co.uk site includes many later cases.
Inheritance Tax - From: 1995 To: 1995
This page lists 5 cases, and was prepared on 08 August 2015.
Bennett and Others -v- Inland Revenue Commissioners Ind Summary, 13 February 1995
13 Feb 1995
ChD
Inheritance Tax
Beneficiaries' gift of excess income was a settled intention and the gifts were exempt from Inheritance Tax.
Inheritance Tax Act 1984 21()
Starke and another (Executors of Brown decd )-v- Inland Revenue Commissioners Gazette, 14 June 1995; Independent, 23 May 1995; [1996] 1 All ER; [1995] STC 689
23 May 1995
CA
Morritt L J
Inheritance Tax
The deceased had owned a site of 2.5 acres on which were built a large farmhouse, and other outbuildings. Held: The court identified the identify the three separate dimensions to the definition of agricultural property under the Act. The phrase "agricultural land" in section 115(2) did not include buildings, and so the site could not be characterised as agricultural land or pasture. "It is as though the draftsman had started with the land and then dealt with what should be treated as going with it".
Inheritance Tax Act 1984 115(2)
1 Cites
1 Citers
Ingram and Another -v- Inland Revenue Commissioners Times, 23 May 1995; Gazette, 14 June 1995; Ind Summary, 05 June 1995; [1995] 4 All ER 334
23 May 1995
ChD
ferris J
Inheritance Tax
Lady Ingram had first conveyed properties to her solicitor who on the next day let the properties back to her, and on the day after conveyed the freehold of the properties to her family. Held: The leases in favour of Lady Ingram, having been granted by a nominee to his principal, were a nullity. However, this did not mean that the leasehold interest which Lady Ingram admittedly acquired against the trustees was a benefit reserved. There had been no point of time at which the trustees and beneficiaries had held the property otherwise than subject to the leasehold interests. Lady Ingram never intended to give them the property free from those interests and they were not therefore included in the gift. The freehold interests in the property were subject to an equitable interest in Lady Ingram equivalent to that which she would have taken had the leases been valid, enjoyed to the entire exclusion of Lady Ingram and of any benefit to her by contract or otherwise. S102 had no application. "It appears to me that, whether Lady Ingram took her leasehold interests in equity or by the operation of section 65 of the Law of Property Act, what the trustees and the beneficiaries under the declarations of trust have finished up with is the property subject to those leasehold interests. Unless it can be said that there was a period or point of time at which the trustees and beneficiaries had a more extensive interest out of which the leasehold interests were carved, the subject matter of the gift made by Lady Ingram was the property shorn of those leasehold interests. In deciding whether or not this could be said two things appear to me to be of cardinal importance. First Lady Ingram never intended to give the property to the trustees and beneficiaries free from the leasehold interests which it is common ground that she had. Secondly the creation and existence of these leasehold interests was not in any way dependent upon the concurrence of the trustees and beneficiaries, still less upon the performance by them of some positive act. In terms of substance, Lady Ingram had her leasehold interests from the very same moment that the trustees and beneficiaries had the property subject to those interests."
Finance Act 1986 102 - Inheritance Tax Act 1984 102(2)
1 Cites
1 Citers
Walding and Others -v- Inland Revenue Commissioners Times, 28 November 1995
28 Nov 1995
ChD
Inheritance Tax
To assess the control of a company account is to be taken of shares even if they are non-voting.
Inheritance Tax Act 1984 269(1)
Walton -v- Inland Revenue Commissioners Times, 11 December 1995
11 Dec 1995
CA
Inheritance Tax
The actual freeholder's characteristics were to be used in assessing the value of a farm share.
Finance Act 1975 38
