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A recent case highlights the importance of meticulous implementation when tax planning. Emma Pearce explains ‘WT Ramsay v IRC [1981] was the leading authority on the approach to statutory interpretation adopted by courts to counter tax avoidance schemes.’ This article discusses the First-tier Tribunal’s (FTT) decision in Trustees of the Morrison 2002 Maintenance Trust v …
Continue reading "Tax Planning: The gain plan"
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Alexander Drapkin discusses a recent case which indicates the factors the court takes into account in a dispute over where a body should be buried ‘The exercise of their authority in disposing of the deceased’s body would likely still have been subject to control by the court and so it was necessary to establish a …
Continue reading "Probate: Laid to rest?"
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Claire Randall and Katie Allard outline the tax implications of Bowring v HMRC, which concerned a scheme to reduce CGT on capital payments by a trust ‘The judgment in Bowring provides a useful insight for those involved in tax planning as to how the courts are likely to decide on similar issues in the future.’In …
Continue reading "Tax: A successful flip-flop"
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Howard Smith summarises the position on the bestowing of gifts and other benefits when a person lacks capacity ‘In each case the deputy or the attorney must decide whether the size of any proposed gift is reasonable given the occasion on which the gift is made and the size of the estate.’ In cases where …
Continue reading "Court Of Protection: Best interests"
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Duncan Bailey reviews the latest version of Ray & McLaughlin’s Practical Inheritance Tax Planning What an initially daunting book: 45mm thick, 900 odd pages and no pictures or thumb spaces between the words. At first I was not sure whether I was meant to wade through it cover to cover and take a few weeks …
Continue reading "Book Review: Worth its weight"
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Liz Braude gives the lowdown on the jurisdiction of the consistory courts, with reference to recent cases ‘A permanent burial is consistent with commending the person to God, entrusting them in peace for their ultimate destination and this commending, entrusting, resting in peace does not sit easily with “portable remains.”’Few practitioners have experience of the …
Continue reading "Ecclesiastical Courts: A grave matter"
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There is a difference between privacy and secrecy. Geoffrey Shindler considers common terms used by politicians and the press about the trust industry ‘There is a fundamental difference between tax evasion, which is a crime; tax avoidance, which is using the legislation created by these MPs who now complain about its use to structure your …
Continue reading "Musings From Manchester: Dictionary Corner required"
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Mark Pawlowski discusses the case law on testamentary trusts for useless or capricious purposes ‘Unwarranted restrictions on the use of estate property, as opposed to their outright destruction, have been struck down on principles of wastefulness and harm to individuals or community.’The notion that a trust may fail because it serves no useful purpose or …
Continue reading "Trusts: Folly engaged"
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John Dickinson and Natasha Dzameh look at the circumstances in which a disposition to an executor constitutes an absolute gift ‘Mr Justice Newey therefore concluded that the will constituted an absolute gift to the executor and there was no impermissible delegation of the deceased’s testamentary powers.’ Practitioners contending with wills and probate matters are fully …
Continue reading "Wills: At your disposal?"
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Scott Allen and Josh Folkard highlight a case brought by disappointed beneficiaries against a financial adviser ‘The judge’s decision that a frustrated beneficiary claim could potentially be advanced by reference to any of the three potential tests for liability in tort could, if applied more widely, introduce uncertainty into what has generally been seen as …
Continue reading "Negligence: No shortcuts for solicitors"
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