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Jonathan Shankland and Celia Speller provide an update on the residence nil-rate band ‘Practitioners, commentators and indeed the general public alike would be well justified in feeling somewhat short changed by this new IHT “concession”. It is fair to say that the RNRB may change significantly, from its current complexion, over time.’ The residence nil-rate …
Continue reading "Residence Nil-Rate Band: Where are we?"
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Mark Pawlowski asks whether political activities should be charitable ‘Should not the line be drawn between objects which are essentially political and objects which are of general social significance?’Charities are becoming more political in character and less concerned with symptomatic relief. The concept of charity today is one of public campaigning, lobbying and self-promotion. But …
Continue reading "Charities: Widening the legal framework"
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Lucy Cooling and Sarah Wood give the lowdown on government proposals for tax planning ‘The new rules would replace the previous Disclosure of Tax Avoidance Schemes (DOTAS) legislation relating to IHT, but unlike the current rules there is no provision in the draft legislation to accept what, in the past, has been mainstream planning.’In July …
Continue reading "Deeds Of Variation: Clarity needed"
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Paul Newman QC examines claims for trust documents under the Data Protection Act 1998, with reference to Dawson-Damer v Taylor Wessing LLP [2016] ‘The critical difference between the disclosure of trust documents and privilege is that the need to maintain confidentiality in the trust document may be overridden by the exercise of the court’s discretion.’ …
Continue reading "Disclosure: What makes data ‘personal data’?"
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Jonathan Grogan looks at the pros and cons of removing personal representatives ‘Even if there was no will, the court may be inclined to favour the status quo and so avoid any instability and additional cost caused by removing those who have already obtained a grant of probate from office.’Applications to remove personal representatives (PRs) …
Continue reading "Estate Administration: A bit of a gamble?"
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McCabe v McCabe [2015] reaffirms the legal test for testamentary capacity in Banks v Goodfellow [1875]. Simrun Garcha reports ‘The court must consider all the relevant evidence and draw inferences from the material in reaching its decision as to whether the propounder of the will has proved the testator knew and approved its contents.’ The …
Continue reading "Testamentary Capacity: Facing the facts"
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Zahra Kanani outlines Green v HMRC [2015] which upholds the principle that BPR does not apply to furnished holiday lets and clarifies ‘investment’ activities. ‘From the tribunal’s analysis, it was clear that the extra services provided were insufficient to demonstrate that the business is other than “mainly” one of holding the Flagstaff property as an …
Continue reading "Business Property Relief: Room for interpretation?"
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Hutchings v HMRC [2015] provides comfort for executors given inaccurate information by beneficiaries. Marilyn McKeever gives the lowdown ‘The tribunal concluded that Clayton chose not to tell the executors about the account in order to evade paying tax on the money. It considered that he never intended to disclose the gift to HMRC and, accordingly, …
Continue reading "Probate: Do ask, do tell"
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Alex Tamosius explains the implications of Foulser v HMRC [2015] ‘The difference of opinion between the Foulsers and HMRC on the question of valuation is striking, but it is worth pausing from the tribunal’s answer to consider the more obvious question – why has it taken eight years from the Court of Appeal’s decision in …
Continue reading "Capital Gains Tax: A question of interpretation"
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Iain Managhan offers an update on recent revocation of power of attorney cases ‘It is clear… that certain considerations need to be discussed with the donor. Raising these potential problems and asking the donors to consider the possibility of such outcomes should minimise the likelihood of appointing people who may be unsuitable.’There have been a …
Continue reading "Powers Of Attorney: Taken to task"
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