SCIT INHERITANCE TAX – deceased employed in United States – deceased’s employer paid premiums under a group term life insurance scheme under which the life of the deceased was insured for $380,000 – deceased could designate one or more beneficiaries to receive this sum on his death – deceased could change the designated beneficiaries – if no valid designation were in force at the date of death the sum assured was payable to the deceased’s estate –whether the deceased had a general power which enabled him to dispose of the sum assured – yes – appeal dismissed – Inheritance Tax Act 1984 S5(2)
Citations:
[2004] UKSC SPC00424
Links:
Inheritance Tax
Updated: 11 June 2022; Ref: scu.200059
