Countess Fitzwilliam v Inland Revenue Commissioners: HL 1 Jul 1993

HL Tax avoidance – Capital transfer tax – Whether composite transaction within the Ramsay principle – Whether series of transactions preordained – Whether reverter to settlor exemption applies – Settlor becoming absolutely entitled to property comprised in settlement – Whether property comprised in settlement originated from testator’s estate – Whether testator a settlor of settlement – Whether property reverted to all settlors of the property – Finance Act 1975, ss 19, 20, 24, 47(1 A), and Sch 5, paras 1, 4 and 5, Finance Act 1976, ss 86 and 87, Finance Act 1978, s 69(7).
[1993] UKHL TC – 67 – 614, [1993] STI 1038, 67 TC 614, [1993] STC 502, [1993] 1 WLR 1189, [1993] 3 All ER 184
Bailii
England and Wales

Updated: 20 January 2021; Ref: scu.559864