INHERITANCE TAX – avoidance – ‘home loan scheme’ – purported sale of house to interest-in-possession trust – mislabelled agreements – validity of sale – s2 Law of Property (Miscellaneous Provisions) Act 1989 – s163 Inheritance Tax Act 1984 . .
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Parents had each left a share of their estate to the bank on trusts for their disabled son. The revenue said that the gifts were caught by and taxable by virtue of sections 5, 49 and 89 of the 1984 Act, the residuary estates of both parents forming part of the son’s estate because section … Continue reading Barclays Bank Trust Company Ltd v Revenue and Customs: CA 14 Jul 2011
The claimant sought to unravel a settlement she had made as receiver for her late husband, saying that it had been made without consideration of its Inheritance Tax implications. The Revenue said that there was no operative mistake so as to allow . .
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
Standing to Claim under A1P1 ECHR The appellants had written employers’ liability insurance policies. They appealed against rejection of their challenge to the 2009 Act which provided that asymptomatic pleural plaques, pleural thickening and asbestosis should constitute actionable harm for the purposes of an action of damages for personal injury. Held: The insurers’ appeals failed. … Continue reading AXA General Insurance Ltd and Others v Lord Advocate and Others: SC 12 Oct 2011
FTTTx Inheritance Tax – Exempt transfers and relief – Agricultural property relief – Farm owned by deceased and let to family farming partnership – Deceased as partner lived in bungalow on the farm until ill-health required him to move to care home – Deceased made occasional visits to bungalow and his possessions remained in it … Continue reading Atkinson and Another v Revenue and Customs: FTTTx 10 Mar 2010
The claimant sought equal pay with other, male, warehouse operatives who were doing work of equal value but for more money. The Court of Appeal had held that since other men were also employed on the same terms both as to pay and work, her claim failed. Held: The claim was not disbarred in this … Continue reading Pickstone v Freemans Plc: HL 30 Jun 1988
Account taken of circumstances wihout ambiguity The respondent gave advice on home income plans. The individual claimants had assigned their initial claims to the scheme, but later sought also to have their mortgages in favour of the respondent set aside. Held: Investors having once assigned their causes of action to the ICS, could not later … Continue reading Investors Compensation Scheme Ltd v West Bromwich Building Society: HL 19 Jun 1997
The court considered the valuation of shares in a notional purchase. The company’s articles of association contained a provision that the company might at any time, by extraordinary resolution, resolve that any shareholder, other than a director or a person holding more than 10 per cent of the shares of the company do transfer his … Continue reading Salvesen’s Trustees v Inland Revenue Commissioners: SCS 1930
Executors appealed against a decision that a residual gift in a will was not charitable and that it was therefore subject to Inheritance Tax arguing that the section if construed in this way was an unlawful restriction on the free movement of captal. The revenue contended that the gift by a Jersey resident was to … Continue reading Routier and Another v Revenue and Customs: CA 16 Sep 2016
Right of Recovery of Money Paid under Mistake Kleinwort Benson had made payments to a local authority under swap agreements which were thought to be legally enforceable when made. Subsequently, a decision of the House of Lords, (Hazell v. Hammersmith and Fulham) established that such swap agreements were unlawful. Kleinwort Benson then sought restitution of … Continue reading Kleinwort Benson Ltd v Lincoln City Council etc: HL 29 Jul 1998
The Society appealed against an order construing a will. The will had made a gift of the maximum allowed before payment of inheritance tax, and then a gift of a house. The Society argued that the house gift should be deducted before calculation of . .
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 . .
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 . .
Inheritance Tax – valuation under s160 Inheritance Tax Act 1984 – maisonette – whether hope value for extension to be taken into account – analysis of comparables – value of appellant’s undivided share determined at pounds 1,603,930 – appeal allowed . .
Mr Brown, the deceased, had owned a site on which was built a substantial farmhouse, with six bedrooms, and various outbuildings. The site formed part of a farm and the issue was whether the site was ‘agricultural land or pasture’ within the meaning . .
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