April 2020 #215 – Law Journals

Tax: HMRC guidance trumped by court

Alison Cartin examines entrepreneurs’ relief: disposals by the trustees and the qualifying beneficiary requirement ‘In relation to disposals by individuals of shares or securities of a company, entrepreneurs’ relief will be available in respect of all shares in the company disposed of by the individual shareholder even if some of those shares have been held …

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Farming disputes: Brothers in arms

Daniel Burton considers a recent case involving trusts of land, family fallouts and a special purchaser ‘The land was held on an express trust for sale and there was a special purchaser who was prepared to pay well in excess of the market value for part of the land.’ Practitioners who regularly act in farming …

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Guest editorial: Death trap?

IHT is seen by many as a divisive tax. Alison Cartin reports on the radical options put forward for change ‘The APPG report recommends abolishing domicile as a connecting factor for IHT and replacing it with long-term residence.’ There is growing speculation that changes to the inheritance tax (IHT) rules are likely following recent reviews …

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Probate: Promises, promises

The parable of the prodigal son has resonance in modern probate disputes. Alex Troup discusses ‘The judge’s finding that the deceased had deliberately broken the agreement to equalise the balance between her two children explained the difference between her old will and the disputed will.’ The parable of the prodigal son has all the makings …

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Wills: A risky business

Laura Abbott sets out what needs to be considered when challenging the validity of a will prepared by a professional ‘The court will require the strongest of evidence to find a will to be invalid and it is extremely difficult to succeed where the medical records and solicitors’ evidence are all supportive of validity.’ As …

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APR and BPR: Attention to detail

Christopher McNall analyses a recent First-tier Tribunal judgment that demonstrates the importance of thorough evidence in cases where the bases for reliefs are tested ‘The key issue, upon which the tribunal focused, was whether there existed “a functional connectivity” between Mr Gill’s occupation of the house and the agricultural activities that took place on the …

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Duty of care: Terms and conditions apply. Or do they?

The Court of Appeal rules on whether the Quincecare duty can be excluded by a bank’s terms and conditions. Jolyon Connell and Oliver Blundell explain ‘Even for commercial clients, to be valid, any limitation or indemnity clause will need to be in clear and prominent language within the terms and conditions.’ Bank fraud is an …

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