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Simrun Seehra looks at IHT exemptions on gifts to charity, with reference to Routier ‘It is clear that the relief to an EU charity should not be refused provided the relevant conditions are met and the taxpayer is able to provide sufficient evidence.’ Lawyers in the wills and estate planning field commonly advise their clients …
Continue reading "Tax Relief: Consider jurisdiction"
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Geoffrey Shindler comments on the Autumn Statement ‘Of course we have to remember that the whole issue of War Loan was government chicanery at its very worst.’ Remember that old file of papers that you stuffed away in a dirty brown envelope and which you were under matrimonial pressure to consign to the paper recycling …
Continue reading "Musings From Manchester: Good news for hoarders?"
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Sukhninder Panesar explains the importance of the court’s recent decision in Cotton v Cardigan [2014] to trustees’ powers ‘From a practical point of view, the decision reaffirms the need for trustees and their legal advisers to make sure that they have prepared and presented such applications with detailed evidential matters.’ The much publicised sale of …
Continue reading "Trustees: A momentous decision"
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Paul Davidoff sets out the implications of ss177-178 of the Finance Act 2013 ‘The election permitted by ss267ZA and 267ZB IHTA now provides a new way to avoid the otherwise unavoidable limitation on the spouse exemption and the ensuing problems.’Glad tidings of great joy were declared last year for mixed domiciled married couples and civil …
Continue reading "Finance Act 2013: Spouse exemption – good news for mixed-domicile couples?"
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Peter Nellist gives the lowdown on the proposed IHT exemption for emergency services personnel ‘With IHT anticipated to affect about 10% of the population, coupled with the current push by HMRC to maximise tax receipts, the existing exemption is a standard bearer for what is morally right.’ Tucked away in para 2.89 of HM Treasury’s …
Continue reading "IHT: The humane approach"
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Amanda Noyce examines Hart v Burbidge [2014] and its lessons on the presumption of undue influence and lifetime gifts ‘Although the law of undue influence in relation to probate cases is a difficult hurdle to overcome, the law relating to lifetime gifts, where the donor may (or may not) now happen to be dead, may …
Continue reading "Undue Influence: Follow your nose"
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Sheffield v Sheffield clarifies liability for historic breaches of trust. Douglas Rhodes explains ‘There could be no real doubt that the true effect of the 1983 declaration was deliberately concealed from the claimant, as the true effect of the declaration was never explained to him.’ At its core, the facts of Sheffield v Sheffield [2014] …
Continue reading "Trusts: Anything to declare?"
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Dominic Lawrance and Mark Summers review the impact of the UK/Swiss tax co-operation agreement two years on ‘The TCA imposes obligations on Swiss banks which hold assets for trusts where there is a UK resident settlor or beneficiary.’ The UK/Swiss tax co-operation agreement (TCA), or ‘Rubik’ agreement, was brought into force on 1 January 2013. …
Continue reading "Switzerland: Solving the puzzle"
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Re Gladys Meek [2014] has lessons on safeguarding the mentally incapable from loss. Sam Chandler analyses the case. ‘The judge considered that it could not be in Mrs Meek’s best interests to require what was left of her resources to be expended on litigation to remedy the deputies’ default when a straightforward alternative was available.’ …
Continue reading "Statutory Wills: Doing the right thing"
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Charlie Fowler sets out what charities should do with donations when the purpose behind an appeal fails ‘In the event that there is an initial failure with a charitable appeal and all of the donors to the appeal are identifiable, then, on the face of it, the trustees of the charity will hold the money …
Continue reading "Charities: Deciding charitable intent"
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