This category can only be viewed by members.
Financial remedy case Joy v Joy-Morancho [2015] has valuable pointers for practitioners. Alexandra Hirst and Sofie Hoffman examine the outcome ‘The sensible approach must surely be to continue to tread carefully and advise trustees to be cautious when taking any steps which might render the trust susceptible to an argument that it has been nuptialised …
Continue reading "Trusts: An elaborate charade"
This post is only available to members.
Sukhninder Panesar discusses Barnes v Phillips [2015], which has lessons on the role of inference and imputation in shared ownership disputes ‘An inference is an important exercise in establishing whether the parties’ original beneficial ownership has changed, and imputation is integral to establishing the exact shares once a finding of change in intention is established.’ …
Continue reading "Co-Ownership: Share with care"
This post is only available to members.
Hutchings v HMRC [2015] provides comfort for executors given inaccurate information by beneficiaries. Marilyn McKeever gives the lowdown ‘The tribunal concluded that Clayton chose not to tell the executors about the account in order to evade paying tax on the money. It considered that he never intended to disclose the gift to HMRC and, accordingly, …
Continue reading "Probate: Do ask, do tell"
This post is only available to members.
Alex Tamosius explains the implications of Foulser v HMRC [2015] ‘The difference of opinion between the Foulsers and HMRC on the question of valuation is striking, but it is worth pausing from the tribunal’s answer to consider the more obvious question – why has it taken eight years from the Court of Appeal’s decision in …
Continue reading "Capital Gains Tax: A question of interpretation"
This post is only available to members.
Geoffrey Shindler makes a plea for joined-up thinking between HMRC and the government ‘So what is going here? The nanny state on the one hand (auto enrolment) or Liberty Hall (freedom and choice with the release of pension capital)?’It is very easy to criticise HM Government and HMRC. It will be water off the back …
Continue reading "Musings From Manchester: Dual control"
This post is only available to members.
Mary Ashley takes a look at proposals for the residence nil-rate band ‘The RNRB and the downsizing provisions are a positive change insofar as they reduce taxpayers’ liability; however, it adds an additional unnecessary layer of complexity to the tax system, which will add higher compliance costs, increasing the impact on both the individual and …
Continue reading "Inheritance Tax: Less tax is more complexity"
This post is only available to members.
John Bunker examines ISAs, in particular whether they are transferable to spouses and what this means for estate planning ‘Lawyers need to be clear who their client is, and the duty owed to that client; and to take care if any potential conflict arises for example; between a surviving spouse and the executors or trustees …
Continue reading "Estate Planning: A penny saved"
This post is only available to members.
Charles King-Farlow considers the curious decision in Young v AG [2012], which had consequences for the Wedgwood Museum, in the first part of two articles ‘There was no trust or other rule of law enabling the court to intervene; but was this a matter of general trust law which would apply to all similar companies? …
Continue reading "Charities: Going to pot?"
This post is only available to members.
Sarah Playforth discusses Chadda v HMRC, which shed light on the level of evidence needed to show that there has been a severance ‘Mr Chadda’s evidence was that Mr Tobin had signed it first. The court said that this simply did not matter. There is no requirement under s36 for the notice to be signed …
Continue reading "Joint Tenancies: Presumed missing"
This post is only available to members.
Adam Carvalho and Alice Kendle explore the slippery and amphibious doctrine of donatio mortis causa ‘Unless the donor revokes the gift before death, when the donor dies their personal representative holds the property on trust for the donee.’ The case of King v The Chiltern Dog Rescue [2015] (King) has clarified – and restricted – …
Continue reading "Deathbed Gifts: At a crossroads"
This post is only available to members.
