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Eleanor Sepanski looks at some issues facing private client practitioners in the months ahead ‘It may be a while before there is a reasonable amount of certainty on tax avoidance issues. This presents an extra challenge to tax planning.’The summer holidays are over. The Queen’s Diamond Jubilee celebrations and the Olympics, which have provided a …
Continue reading "Guest Editorial: Back to school"
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Jonathan Burchfield and Ann Phillips summarise Lord Hodgson’s recent review of the Charities Act On 16 July 2012, Lord Hodgson published his much-anticipated 160-page review of the Charities Act 2006, containing no fewer than 113 recommendations, which he submitted to Nick Hurd, the Minister for Civil Society. Lord Hodgson should be congratulated on having completed, …
Continue reading "Charities: Power to the people"
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Elizabeth Wilson examines the lessons of McCall & anor v HMRCC The case of McCall & anor v HMRCC [2011] provides useful guidance on IHT business property relief for ‘hybrid’ landowning businesses such as seasonal grazing ‘lets’ where the landowner remains in legal and factual occupation of the land used in the business, but is …
Continue reading "IHT: BPR and ‘hybrid’ businesses"
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Kate Symons and Will Hadley give the lowdown on identifying and protecting manorial rights ‘The extent of each manor was usually determined by a grant from the Crown, with each manor comprising a self contained area with its own customs and rights.’The area of manorial rights is by no means a straightforward subject for review. …
Continue reading "Overriding Interests: Not on my manor"
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Marilyn McKeever assesses whether a new relief introduced in the Finance Act 2012 will encourage trustees to invest in the UK ‘In these straightened times, one of the government’s principal concerns is to encourage inward investment as a means to economic growth.’ Marcus is feeling got at. He is a non-dom and was a banker …
Continue reading "Tax: Open for business"
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Geoffrey Shindler looks at charitable donations for tax purposes ‘Back in the olden days it was a matter of governmental testosterone that a government had the courage to enact its own proposals, especially its Budget proposals.’Like the poor, with whom it is intimately connected, charity is always with us. Never more so than just now. …
Continue reading "Musings From Manchester: It’s better to give"
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In Lilleyman the divorce cross-check was applied to a claim for reasonable financial provision for a widow, as Martin Holdsworth and Louise Tatton relate ‘Equality of treatment may not necessarily lead to equality of outcome.’ The recently reported cases of Lilleyman v Lilleyman [2012] and Lilleyman v Lilleyman (costs) [2012] concerned a widow’s application for …
Continue reading "Financial Provision: Big money, short marriage"
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Setting aside court orders concerning payment from one party to another can be risky, as David de Ferrars explains ‘Mrs Morris’ counsel sought to argue that the receipt of the £1.481m by Mrs Morris as a purchaser for value without notice continued to govern her title to those monies, notwithstanding the subsequent rescission of the …
Continue reading "Court Orders: Revoking the rule"
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Anna Bruce-Smith sets out the lessons to be learned from Wharton v Bancroft ‘Mr Justice Norris went out of his way to commend counsel for keeping the number of witnesses to a minimum by weeding out the periphery testimonies, in particular those who seemed keen only to air their grievances against either White Horse or …
Continue reading "Wills: Focus first"
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Leela Hemmings examines the approach of the UK divorce court to offshore trusts and trustees in BJ v MJ ‘Relying on the court’s authority pursuant to the Matrimonial Causes Act 1973, the judgment reviewed the various forms of trusts and discussed how each would be treated in divorce proceedings.’ Often the biggest unknown in financial …
Continue reading "Trusts: Offshore assets and the divorce pot"
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