The defendant firm of solicitors, acting as executors had sought to arrange matters to minimise Inheritance Tax. A deed of variation was put in place after approval by the court, but the CTO interpreted the deed differently. The executors believed the interpretation to be wrong and sought advantage from that interpretation on counsel’s advice. Negligence … Continue reading Jemma Trust Company Ltd v Kippax Beaumont Lewis (A Firm) and others: CA 11 Mar 2005
SCIT INHERITANCE TAX – Deed of Variation – variation purporting to take effect as a gift by the deceased before death – whether within s 142 IHTA 1984 and an exempt transfer under s 17 – no – Revenue determination that nil rate band to be set against value of ‘gifted’ property based on variation … Continue reading Glowacki (Deceased) v Revenue and Customs: SCIT 21 Aug 2007
FTTTx Income tax – gift aid – s 25 FA 1990 – gifts to charity under deed of variation of a deceased’s estate – s 142 IHTA 1984 – – whether gift a qualifying donation – whether donors received a benefit in consequence of making the gifts – s 25(2)(e) FA 1990. Berner J [2010] … Continue reading Harris v Revenue and Customs: FTTTx 18 Aug 2010
lau_hmrcSCIT SCIT INHERITANCE TAX – DISCLAIMER OF BENEFIT – The Appellant was joint executor and residuary beneficiary of her late husband’s estate – The Appellant paid andpound;1 million to her son who had renounced a legacy of andpound;665,000 under the Will of his step father – The Appellant contended that the payment of andpound;1 million … Continue reading Lau v Her Majesty’s Revenue and Customs: SCIT 18 Mar 2009
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