Exempt transfer and relief- Agricultural property relief- farmhouse whether ‘character appropriate’ to 16.29 acres of agricultural land with adjacent agricultural buildings – Yes – farmed by deceased up to the date of his death – Inheritance Tax Act 1984 section 115 (2) relief granted. [2011] UKFTT 351 (TC), [2011] WTLR 1183 Bailii England and Wales … Continue reading Golding and Another v Revenue and Customs (Inheritance Tax : Agricultural Reliefs): FTTTx 18 May 2011
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The parties sought to rectify a deed of family arrangement varying a will. The variation deed had had several mistakes which in fact increased the sum of Inheritance Tax owed. HMRC refused to accept the rectification deed unless approved by the court. Held: The request for rectification was granted. The claimant had demonstrated a specific … Continue reading Ashcroft v Barnsdale and Others: ChD 30 Jul 2010
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
