swarb.co.uk - law index
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Inheritance Tax - From: 1930 To: 1959
This page lists 3 cases, and was prepared on 08 August 2015.
ÂRe Barnes [1939] 1 KB 316
1939
Lawrence J
Inheritance Tax
A gift was made within three years of death. Under estate duty law it fell to be treated as property passing on the death. The deceased's estate was heavily insolvent with a deficit of over £90,000 and the executrix claimed that the aggregate of the virtually negligible personal estate and the preceding gift should be reduced by the total amount of the debts. Held: "I am unable to agree with the construction of s.7, sub-s. I, contended for by the appellant. I think the words of the section contemplate liabilities of the estate which are met out of the estate, and I think that the last three lines of s.7, sub-s 1, in their natural meaning are inconsistent with the appellant's case. I do not see how, in determining the value of an estate, allowance can be made for debts beyond the value of the assets out of which the debts are to be met. It is an unnatural use of words, in my view, to speak of making an allowance for a minus quantity in determining value. The appeal will therefore be dismissed, with costs."
Finance Act 1894 7
1 Citers
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In re Miller's Agreement, Uniacke -v- Attorney-General [1941] 1 Ch 615
1947
ChD
Wynn-Parry J
Contract, Inheritance Tax
Two partners had covenanted with a retiring partner that on his death they would pay certain annuities to his daughters. The Revenue claimed estate duty. Held: The claim was rejected. The daughters were not parties to the agreement, and had no right to sue for their annuities. Whether they received them or not depended on whether the other partners were willing to pay or if they did not pay whether the deceased partner's executor was willing to enforce the contract. After citing the earlier cases Wynn-Parry J. said: "I think it emerges from these cases that the section has not the effect of creating rights but only of assisting the protection of rights shewn to exist."
Law of Property Act 1925 56
1 Cites
1 Citers
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 The Perpetual Executors & Trustees Association of Australia Limited -v- The Commissioner of Taxes of The Commonwealth of Australia; PC 19-Jan-1954 - [1954] UKPC 4; [1954] 2 WLR 171; [1954] TR 29; (1954) 47 R & IT 293; (1954) 33 ATC 30; [1954] 1 All ER 339; [1954] AC 114
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