The surrender of a life interest under a will trust in favour of those people entitled in remainder operated as a ‘disposition’ of that life interest for the purposes of sections 20 and 21 of the Finance Act 1943.
Jenkins LJ specifically rejected the argument that there was no disposition because ‘a surrender of a life interest destroys the interest and there is nothing left’.
Judges:
Lord Goddard CJ, Jenkins LJ
Citations:
[1958] Ch 289
Statutes:
Jurisdiction:
England and Wales
Cited by:
Cited – Akers and Others v Samba Financial Group SC 1-Feb-2017
Saad Investments was a Cayman Islands company in liquidation. The liquidator brought an action here, but the defendant sought a stay saying that another forum was clearly more appropriate. Shares in Saudi banks were said to be held in trust for the . .
Lists of cited by and citing cases may be incomplete.
Income Tax
Updated: 18 July 2022; Ref: scu.640396
