Application of Hastings-Bass Rule F had created two settlements. Distributions were made, but overlooking the effect of section 2(4) of the 2002 Act, creating a large tax liability. P had taken advice on the investment of the proceeds of a damages claim and created a discretionary trust. Unfortunately it was done in such a way … Continue reading Futter and Another v Revenue and Customs; Pitt v Same: SC 9 May 2013