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Costs: Anything to declare?
Victoria Sara-Kennedy considers Al-Sadi v Al-Sadi a departure from the usual costs rule on discontinuance ‘Practitioners should always remind clients before they issue their claim that they must be prepared to meet the risks and liabilities which go hand in hand with issuing a claim.’ What can a claimant do when their claim is undermined …
Mediation: After Jackson
Adam Carvalho and Lizzy Sainsbury set out two cases where the courts had to consider whether a refusal to mediate was reasonable ‘At the time of deciding whether or not to accept an offer to mediate, which may be at a very early stage of the litigation and sometimes at the pre-action stage, it may …
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IHT And Pensions: Charge ahead?
Hugh Cumber finds Parry v HMRC provides welcome clarity of the circumstances in which IHT can arise in pension schemes ‘It is clear that a transfer between schemes with the express purpose of achieving a saving to IHT for the “death” beneficiaries could not be saved by s10, particularly considering the extensive discussion of mixed …
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Capacity: Size matters
Jonathan Grogan sets out the current position on gifts from deputies and attorneys to themselves ‘While an attorney who is related to or connected with a person who lacks mental capacity is allowed to make gifts to themselves on customary occasions, a deputy would always need to seek Court of Protection approval for any gifts …
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Musings From Manchester: Back foot contract
O T
A glance at the news reveals a lack of joined-up thinking in HMRC and other government agencies, finds Geoffrey Shindler ‘If I owe my bank £1,000 I have a problem but if I owe the bank £1m then they have a problem because they are unlikely to recover it. It would appear to be the …
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Inheritance And Trustees: Moving with the times
Mark Keenan and Bethan Byrne examine changes to family provision claims ‘The s3 criteria effectively amount to a “balancing exercise” which the court must undertake to weigh up the competing factors in considering whether reasonable financial provision has been made for a claimant.’ The Law Commission project ‘Intestacy and Family Provision Claims on Death’ began …
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Small Business, Enterprise And Employment Bill: Who pulls the strings?
Dominic Ribet explains how the proposed UK registry of corporate beneficial ownership will work ‘Shares or rights held by a nominee for another will, for the purposes of the new rules, be treated as being held by the other if they are exercisable only on the other’s instructions or with the other’s consent.’ At the …
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US Reporting Requirements: The long arm of US tax law
Joshua Rubenstein and Shelly Meerovitch give an introduction to FATCA reporting for offshore trusts and holding companies ‘Unless a foreign financial institution becomes FATCA compliant, withholdable payments made to it, for any account, will be subject to 30% withholding.’For the past four years, many, if not most, international investors and private client advisers have heard …
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Short-Term Trusts: Time trials
Simrun Seehra looks at recent case law on rectification of a deed of variation ‘It is not always clear whether a variation results in property being held in trust for a period ending not more than two years after the death and drafting errors have been made which mistakenly define the length of a discretionary …
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Charity Law Update: Responsible giving
Peter Steer and Sarah Clune review recent developments in third sector law ‘Prudence is perhaps a rather old fashioned virtue, but it should make trustees stop and think whether what they have cleverly structured or who they are involved with is really in the best interests of the charity, or themselves.’ This article is a …
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