Shares which were transferred within the first tax quarter after a death lost the benefit of Inheritance Tax exemption on their transfer into a discretionary trust.
Judges:
Peter Gibson, Thorpe, Chadwick LJJ
Citations:
Times 02-Dec-1997, [1997] EWCA Civ 2674, [1997] STC 1450, [1997] BTC 8045
Links:
Statutes:
Jurisdiction:
England and Wales
Citing:
Cited – Cape Brandy Syndicate v Inland Revenue Commissioners CA 1921
Rowlatt J said: ‘In a taxing Act one has to look merely at what is clearly said. There is no room for any intendment. There is no equity about a tax. There is no presumption as to a tax. Nothing is to be read in, nothing is to be implied’ and . .
Lists of cited by and citing cases may be incomplete.
Inheritance Tax
Updated: 10 November 2022; Ref: scu.80660
