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Jo Summers summarises the key points of HMRC’s consultation on vulnerable beneficiary trusts The current system of tax reliefs for vulnerable beneficiary trusts is overly complex. How do you define vulnerability? That is the question raised by HMRC’s recent consultation on vulnerable beneficiary trusts. It may be easy to spot vulnerability but it is harder …
Continue reading "Trusts: Distinguishing characteristics"
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Sarah Clune gives an update on Catholic Care’s appeal on same-sex adoption Where charities are pursuing what is regarded as a public activity (such as child adoption), they no longer necessarily have freedom of action. This is the price to be paid for living and working in a liberal-minded democracy. On 2 November, the Upper …
Continue reading "Charities: Can discrimination be justified?"
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In the first of two articles, Julia Rangecroft sets out the best approach to deathbed planning The client should be encouraged to make gifts sufficient to utilise the current year’s allowances, and, if they survive to the commencement of a further tax year, further gifts can be made. Mitigating capital taxes is frequently a financial …
Continue reading "Deathbed Planning: Conserving family wealth"
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Ashley Crossley and Alexandra Demper analyse the decision in DDD Settlements [2011] and its confirmation of English case law Article 47 enables the Royal Court to consent to an arrangement varying or revoking all or any of the terms of a Jersey trust. In recent years, a number of cases in Jersey have considered the …
Continue reading "Discretionary Trusts: DDD Settlements jolts the premise of the irrevocable"
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Sarah Foster finds an unexpected party benefits in Philippe v Cameron [2012], a dispute between a tennis club and a church The purpose of the 1954 Act was to validate and restrict to charitable purposes certain instruments that were pre-16 December 1952 and which provided for property to be held or applied for objects that …
Continue reading "Unincorporated Associations: Game, set and match"
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Re Foote highlights the importance of domicile in our multi-jurisdictional society, as Suzana Popovic-Montag and Stuart Clark relate The choice of changing one’s domicile must be voluntary, not dictated by business, debt or health. The 2011 decision Re Foote Estate, of the Alberta Court of Appeal, centres around the issue of domicile. Leave to appeal …
Continue reading "Domicile: On the back foot?"
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Duncan Bailey discusses the current focus on celebrities being ‘seen’ to pay their fair share of tax It seems we are moving to a position where everyone should be paying their fair share of tax and not just the minimum amount they can, albeit legally, get away with. I am writing this after reading in …
Continue reading "Guest Editorial: A moral duty"
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Paul Ridout examines the consequences of the Upper Tribunal’s determination on the Attorney General’s Reference on benevolent funds and certain other poverty charities The tribunal followed its decision in the Independent Schools Council case and confirmed that different charitable purposes have different tests of public benefit. One single evening lecture, which formed part of my …
Continue reading "Charities: Poor employees and poor relations"
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Robert Keylock provides an update on the usefulness of discounted gift plans after Watkins v HMRC [2012] The main potential inheritance tax benefit of DGPs is the immediate inheritance tax discount where the donor’s life expectancy is such that the annual payments have some value.When the tax on pre-owned assets came into force in April …
Continue reading "Estate Planning: Benefits and pitfalls"
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Michael O’Sullivan reviews the case of Re JC [2012], which clarifies the current position with statutory wills and adoption The effect in law of an adoption is that the adopted child ceases to be regarded as the child of their natural parents and becomes, in the eyes of the law, the child of the adopters. …
Continue reading "Statutory Wills: Objective and fair?"
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