Commissioners for HMRC v Parry & ors [2020] WTLR 1151

Wills & Trusts Law Reports | Winter 2020 #181

The appellants were the three executors of Mrs Staveley’s estate, two of whom were also her sons. Mrs Staveley held a pension scheme on which she had decided never to draw, with the aim of maximising the death benefit that would accrue to her sons under the scheme. Under the terms of her will, her estate was to be held on trust for her two sons in equal shares. Shortly prior to her death Mrs Staveley had transferred funds from her existing pension scheme into a new personal pension plan (PPP). The motives out of which she had done so were contested between the parties, the appellants all...

Garron v Canada WTLR(w) 2011-02

Wills & Trusts Law Reports | Web Only

Appeals by the trustee from a Tax Court decision dismissing the appeal from assessment. The assessed tax arose from capital gains realized by two trusts on the disposition of the shares of two Canadian corporations at a time when, according to the Crown, the trusts were resident in Canada. The beneficiaries of both trusts were residents in Canada. The trustee was incorporated in Barbados and was licensed as a trustee in Barbados. The trustee argued that because the trusts were residents of Barbados for purposes of the Barbados Tax Treaty, their capital gains were exempt from income tax i...