SCIT Business property relief for inheritance tax purposes – Whether the whole or Ragley Hall qualified notwithstanding part of the interior in private occupation – Section 110 – Meaning of asset – Building wholly or mainly used for business – No provision for apportionment – Exterior wholly used for business – Single asset – Appeal … Continue reading Seymour and others v Inland Revenue: SCIT 11 Nov 2004
A settlor had created a discretionary trust in favour of her husband. The Commissioners sought to apply the reservation of benefit provisions. Held: The settlor’s retained entitlement as a discretionary beneficiary did constitute a reservation of interest within section 102(3). However, the exemption from Inheritance Tax in favour of transfers between spouses had overriding effect, … Continue reading Inland Revenue Commissioners v Eversden and Another: ChD 10 Jul 2002
The taxpayer, to minimize his tax, put assets into a discretionary trust. The trust included the right for him to give 90 days notice requiring the assets to be transferred to him absolutely. He successfully argued that the assets were no longer part of his estate, since that right was an asset in his estate. … Continue reading Melville and others v Commissioners of Inland Revenue: CA 31 Jul 2001
Mutual Knowledge admissible to construe contract The parties had entered into a development contract in respect of a site in Wandsworth, under which balancing compensation was to be paid. They disagreed as to its calculation. Persimmon sought rectification to reflect the negotiations. Held: The appeal succeeded. There were difficulties in construing the contract. The contract … Continue reading Chartbrook Ltd v Persimmon Homes Ltd and Others: HL 1 Jul 2009
FTTTx INHERITANCE TAX – settled property – scrip dividends – whether income or capital – whether property comprised in the settlement for the purposes of an exit charge before the first 10 year anniversary – Inheritance Tax Act 1984, s68(5)(c) – appeal dismissed [2015] UKFTT 140 (TC), [2015] WTLR 1103, [2015] SFTD 539 Bailii England … Continue reading Meena Seddon Settlement v Revenue and Customs: FTTTx 9 Apr 2015
FTTTx Inheritance Tax; business property relief; liferent; partnership; replacement property; Inheritance Tax Act 1984 sections 49, 105, 106, 107, 110 J Gordon Reid QC J [2009] UKFTT 101 (TC), [2009] SFTD 374, [2009] WTLR 1117, [2009] STI 2028, SC/3212/2007 Bailii England and Wales Inheritance Tax Updated: 11 November 2021; Ref: scu.373640
SCIT Inheritance tax – Death – liability for tax – building society account not notified prior to issue of Clearance – account part of deceased’s estate for inheritance tax purposes – estate distributed by executors before they realised that account part of taxable estate – nature of asset – whether settled property – persons liable … Continue reading Smith and Others v Her Majesty’s Revenue and Customs: SCIT 18 Mar 2009
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Our law-index is a substantial selection from our database. Cases here are restricted in number by date and lack the additional facilities formerly available within lawindexpro. Please do enjoy this free version of the lawindex. Case law does not ‘belong’ to lawyers. Judgments are made up of words which can be read and understood (if … Continue reading law index
