The term ‘benefit’ in a trust instrument is to be construed widely. To exercise a power of advancement by settling on an object of the power and his wife and children, property in which he has otherwise only a life interest was an ‘application’.
Judges:
Farwell J
Citations:
[1937] 2 All ER 570
Jurisdiction:
England and Wales
Cited by:
Cited – Barclays Bank Trust Company Ltd v Revenue and Customs CA 14-Jul-2011
Parents had each left a share of their estate to the bank on trusts for their disabled son. The revenue said that the gifts were caught by and taxable by virtue of sections 5, 49 and 89 of the 1984 Act, the residuary estates of both parents forming . .
Lists of cited by and citing cases may be incomplete.
Trusts
Updated: 08 May 2022; Ref: scu.441864
