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IHT: Showing resolved intent
Peter Nellist highlights a key exemption to inheritance tax and discusses the importance of a lasting power of attorney ‘The proper use of a resolution, as opposed to relying on a pattern building up from past gifts, can make it possible for the s21 exemption to apply to what otherwise HMRC would argue was a …
Cases Referenced
Cases in bold have further reading - click to view related articles.
- Bennett & ors v IRC [1995] STC 54
- MacDowell v IRC [2004] STC (SCD) 22
- Re PC [2014] EWCOP 41