Inland Revenue v Arkwright and Another: ChD 16 Jul 2004

The deceased and his wife had held their property as tenants in common in equal shares. The Special Commissioner had assessed the interest of the deceased in the property at less than one half of the vacant possession value.
Held: It was not part of the commissioner’s job to reach any conclusion as to the value of the deceased’s interest. Whether a purchaser would take into account the surviving wife’s interests in setting his bid, was also a matter for the Lands Tribunal to decide upon proper evidence.
Gloster J
[2004] EWHC 1720 (Ch), Times 04-Aug-2004, [2005] 1 WLR 1411
Inheritance Tax Act 1984 161 225, Special Commissioners (Jurisdiction and Procedure) Regulations 1994 (1994 No 1811) 23
England and Wales

Updated: 03 March 2021; Ref: scu.199376