Lau v Her Majesty’s Revenue and Customs: SCIT 18 Mar 2009


SCIT INHERITANCE TAX – DISCLAIMER OF BENEFIT – The Appellant was joint executor and residuary beneficiary of her late husband’s estate – The Appellant paid andpound;1 million to her son who had renounced a legacy of andpound;665,000 under the Will of his step father – The Appellant contended that the payment of andpound;1 million was unconnected with her son’s renunciation – the payment was made in fulfilment of an earlier promise to fund her son’s business ventures – evidence overwhelmingly demonstrated that the renunciation was made in return for payment of the andpound;1 million – renunciation no effect made for consideration in monies – Appeal dismissed – section 142(3) Inheritance Tax Act 1984.

Michael Tildesley
[2009] UKVAT SPC00740

Inheritance Tax

Leading Case

Updated: 02 November 2021; Ref: scu.373755