Tax: Testing the waters

Steve Appleton and Joshua Eaton outline HMRC’s new approach to trusts and the taxation of index-linked loans ‘The nature of an index-linked loan between trustees and the surviving spouse represents a personal contractual relationship rather than a commercial one.’Before the introduction of the transferable nil rate band (TNRB) on 9 October 2007, the nil rate …
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Cases Referenced

  • Lomax (H M Inspector of Taxes) v Peter Dixon & Son Ltd [1943] 2 All ER 255