Wills & Trusts Law Reports | January/February 2017 #166Mrs Carrasco inherited a London property known as 33 Smith Terrace, Chelsea in June 1988 (‘the property’). She subsequently vested the property in herself and her husband Javier Carrasco by way of a Deed of Gift.
The property was let to tenants from June 1998 to late June 2010. In 2010 it was put up for sale. Exchange of contracts took place on 25 May 2010, and completion took place on 23 July 2010. The appellants moved into the property on 29 June 2010 and resided there until 22 July 2010.
In April 2012, and upon professional advice, the appellants executed a p...
Tim Adams and Nicole Booth explain recent tax cases and the consequences for the taxpayer ‘Given the current climate and HMRC’s determination to clamp down on marketed tax avoidance schemes, taxpayers looking to use a tax avoidance scheme will need to exercise extreme caution.’ The decision in Litman & Newall v HMRC [2013] represents another …
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