Hutchings v HMRC [2015] UKFTT 0009 (TC) On appeal from: TC/2013/00644
October 2015 # 153Robert James Hutchings (‘deceased’) owned a farm in West Sussex, from which he operated a number of businesses, valued at his death at about £3m. He had an offshore bank account with Julius Bär in Switzerland and, approximately six months before his death, authorised a transfer of the balance to the appellant. The sum transferred was £443,669.00. The appellant was also principal beneficiary under the will of the deceased, who died on 14 October 2009. The executors, who were a solicitor and a land agent, met with members of the family on 29 October 2009 during the course of wh...
Drown & anr (as Executors of Leadley Deceased) v HMRC [2014] UKFTT 892 (TC)
June 2015 #150Prior to his death on 11 May 2010, the deceased had bought £25,000 of shares in two companies and made a loan of £334,784.00 to a third company. It was accepted by HMRC that by 5 April 2010 the shareholdings were of negligible value. The loan to the third company had become irrecoverable as of 3 November 2009. The deceased’s 2009/2010 tax return was submitted by the appellants who were the deceased’s executors. Capital losses of £384,784.00 were reported and a claim to offset £40,000 against the deceased’s income was made. It was accepted by HMRC that the deceased would...
Parry & ors v HMRC Appeal number: TC/2012/7106
September 2014 #142Under the terms of her divorce settlement, Mrs Staveley (the deceased) received a share of a company pension scheme. She was advised that her only option was to transfer this to a ‘s32 buyout’ policy. Under this policy funds could revert to the company which would potentially benefit her ex-husband. The divorce had been acrimonious and she desperately wanted to avoid that happening. However, it became apparent that the s32 policy was her only option and in July 2000 she transferred her fund of £571,715 to the s32 policy. Evidence demonstrated that the deceased remained unhapp...
Behague v HMRC [2013] UKFTT 596 (TC)
March 2014 #137HMRC opened an enquiry into Mr Behague’s (the appellant) self-assessment return and issued a notice to the appellant under para 1 of sch 36 of the Finance Act 2008. This notice requested the provision, to HMRC, of a client engagement letter and a report issued to the appellant by his solicitors. The appellant appealed this notice and claimed legal professional privilege (LLP) applied to the documents.
HMRC accepted that communications between a solicitor and his client were privileged to the extent they related to the giving or obtaining of legal advice, however HM...