Banks v HMRC [2020] WTLR 19

Wills & Trusts Law Reports | Spring 2020 #178

The appellant taxpayer, Arron Banks, appealed against a notice of determination issued by HMRC. This notice assessed Mr Banks as owing inheritance tax of £162,945.34 on donations of £976,781.38 that he and companies that he controlled made to the UK Independence Party (UKIP) between October 2014 and March 2015 (the donations).

It was common ground that no UKIP MPs were elected at the 2010 UK General Election. UKIP did not therefore meet the statutory definition under s24(2) IHTA 1984 and so the Donations were not treated as exempt from VAT. The appellant argued that this ...

MN v OP & ors [2019] WTLR 941

Wills & Trusts Law Reports | Autumn 2019 #176

In a claim for the approval of an arrangement varying a trust under the Variation of Trusts Act 1958 (the 1958 Act), an application was made for an anonymity order restricting the naming of the parties and access to the court file relating to the claim and the publication of certain information. The judge dismissed the application but gave permission for an appeal. The appellant, who brought the claim, was settlor of a settlement (the settlement), which comprised very valuable assets divided into several funds, some of which were held on discretionary trusts and others ...