V v T & anr [2014] EWHC 3432 (Ch)

WTLR Issue: January/February 2015 #146

The claimant was the settlor of three trusts and applied, under the Variation of Trusts Act 1958, for approval of similar arrangements for the benefit of minor beneficiaries under the trust and for future, yet unborn, beneficiaries under the trust...

Futter & anr v HMRC; Pitt & anr v HMRC [2013] UKSC 26

WTLR Issue: July/August 2013 #131

The first appeal concerned two settlements, made with non-resident trustees, by Mr Futter. Considerable ‘stockpiled’ gains were rolled up while the trusts were non-resident and, in exercise of the powers conferred by the trusts, new resident trustees were appointed and capital was distributed to Mr Futter and his children in the mistaken belief that the ‘stockpiled’ gains, which would be attributed to them, would be absorbed by allowable losses that had been realised, so that no liability to capital gains tax would arise...