October 2012 #140 – Law Journals

Guest Editorial: ‘One size fits all’?

Marilyn McKeever gives a debrief on the ‘mansion tax’ ‘There are many legitimate reasons, which have nothing at all to do with SDLT, or even tax generally, why people own residential property through a company.’ Once again, the government has proposed legislation seemingly without having a proper understanding of the context or the practical implications …

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IHT: Incentivising charitable donations

Sarah Lee outlines the ramifications of the 10% IHT relief for charitable giving By directing money away from central government and into charities’ hands, the government aims to empower these organisations to take on more responsibility in society.’ On 10 August 2012, HMRC produced new guidance on the 36% reduced rate of IHT for estates …

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Europe: Act now

Richard Frimston discusses the implications of the EU Succession Regulation ‘The provisions of the SR (Succession Regulation), including those governing choice of law, are vital for all practitioners to understand.’ The EU Succession Regulation (SR) came into force on 17 August 2012. It is designed to counter the problem that different states have completely different …

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Trusts: Can we trust trusts?

Duncan Bailey explores the truth behind the media perception of trusts ‘In the current climate of huge bonuses and reports of millionaires paying low rates of tax, is the lambasting of trusts as a means of tax avoidance or even evasion fair, or are trusts getting a bad press?’ The publicity offices of organisations such …

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Trustees: An emerging pragmatism

Emily Campbell looks at recent cases that help to define the role of trustees in litigation ‘There are two main types of claim in litigation concerning a trust: ‘external’ disputes and ‘internal’ disputes. A typical example of an external dispute is a negligence claim by trustees against the trust accountants. A typical example of an …

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Shareholdings: Listed shares? Beware

Failure to disclose a change in shareholding could result in a large financial penalty, as Colin Smith and Christopher Groves explain ‘The high level of the fine, which was imposed despite Sir Ken’s early cooperation with the FSA and despite the fact that it was accepted that he had nothing to gain by failing to …

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Tax: Preservation for the public

Harriet Atkinson examines HMRC’s new guide to capital taxation and the national heritage ‘Those closely involved with national heritage property will also be encouraged by the memorandum’s early statement that the government recognises the importance of national heritage and intends to continue with a policy of encouraging its preservation for the public in private ownership.’On …

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Caveats: Back to basics

Tim Harrison sets out the current position on caveats ‘Earlier in the year there was an apparent change in the procedures regarding the entry of a caveat, although the change was not communicated to those who practise this area of law.’ Lindley LJ said, at p216 of the Court of Appeal decision in Moran v …

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