Withers Trust Corporation Ltd v The Estate of Goodman [2024] WTLR 763
Wills & Trusts Law Reports | Summer 2024 #195Hannah Goodman died on 14 July 2020. She was survived by her late husband, Adrian, who himself died on 11 June 2022. The claimant was the Withers Trust Corporation, which was the executor appointed by Adrian’s last will, dated 2 November 2020.
The claimant sought an order pursuant to s2 of the Forfeiture Act 1982 that the application of the forfeiture rule to Adrian’s interest in Hannah’s estate and to his interest in jointly owned assets be modified, so as to give Adrian full relief from forfeiture.
In October 2017, Hannah was diagnosed with lung cancer. ...
Shah v Commissioners for HMRC [2024] WTLR 265
Wills & Trusts Law Reports | Spring 2024 #194The executor of the estate of the deceased appealed against a notice of determination under s221 Inheritance Tax Act 1984 that the deceased was domiciled in England and Wales at the time of his death.
The deceased was born in Karachi in what was then British India in 1929. He attended school and university in Karachi in the 1940s. Following partition, in 1947 he moved from Karachi, Pakistan to Gujarat, India to complete his university course. On completion, he moved to Tanzania. In 1954 he moved to the UK to undertake a further degree, returning to Tanzania on completion ...
Commissioners for HMRC v Personal Representatives of Vigne [2023] WTLR 1259
Wills & Trusts Law Reports | Winter 2023 #193The late Mrs Maureen Vigne died on 29 May 2012. At that time, she was the sole owner of approximately 30 acres of land. From 2008 a livery business was operated on or from the land, offering a package which included:
- (1) the provision of worming products, including administering them where and when necessary (if an owner was unable and/or unwilling so to do), on a quarterly basis;
- (2) providing the horses with hay feed during the winter months when the grass might not provide a sufficient food source – a hay crop was grown on part of the land, referred to as the hay...
Executors of the estate of Linington & anr v Commissioners for HMRC [2023] WTLR 917
Wills & Trusts Law Reports | Autumn 2023 #192The deceased had made certain inheritance tax planning arrangements which involved the assignment of the reversionary interest of the reversionary beneficiary in MTrust (a 150-year Isle of Man trust) to the deceased, who was then granted an option to become the income beneficiary of the MTrust. Prior to the exercise of the option, the deceased transferred his reversionary interest to the KTrustees in 2010 (prior to the enactment of s74A-C Finance Act 2012).
HMRC issued two notices of determination under s221 of the Inheritance Act 1984 against the executors of th...
Pride v Commissioners for HMRC [2023] WTLR 1109
Wills & Trusts Law Reports | Autumn 2023 #192The appeal was brought by Mr Pride in his capacity as executor of the estate of Geraldine Jill Price (deceased) (Mrs Pride) against notices of determination issued by HMRC on 18 October 2018. Immediately before her death Mrs Pride was the principal beneficiary of a family trust established on 10 October 2002 (the property trust). Immediately prior to Mrs Pride’s death the property trust:
- (1) held a property in Poole (the flat), which was leased to an unrelated party;
- (2) was the provider of an indemnity to St James’ Place Corporate Nominee Ltd (the nominee), which h...
Firth & anr v Commissioners for HMRC [2022] WTLR 1297
Wills & Trusts Law Reports | Winter 2022 #189The appeal was brought by Mr and Mrs Firth in their capacity as trustees of the L. Batley 1984 Settlement (the trust) against notices of determination issued to the trustees by HMRC on 7 September 2018, which refused Inheritance Tax (IHT) Business Property Relief (BPR) on the grounds that the interest of the trustees in the business carried on by the Lawrance (Hotel Living) Ltd (The Lawrance) consisted mainly in the holding of investments and was therefore not a qualifying business for the purposes of BPR.
On 14 November 1984 Lawrance Batley established the trust. Prior to 2012 th...
Bhaur & ors v Equity First Trustees (Nevis) Ltd & ors WTLR(w) 2022-01
Wills & Trusts Law Reports | Web OnlyBanks v Commissioners for HMRC [2021] WTLR 1193
Wills & Trusts Law Reports | Winter 2021 #185Between 7 October 2014 and 31 March 2015, the appellant (T) made 14 political donations to the United Kingdom Independence Party (UKIP) and its youth wing known as Young Independence. The donations had a total value of £976,781.38. Some were made in T’s personal capacity, others through a company of which T was indirectly sole beneficial owner.
UKIP was a limited company registered as a political party. In the 2014 European Parliamentary Election, UKIP won 24 seats and 26.6% of the UK popular vote, making it the most successful UK party on both measures. However it was less succes...
Ware v Ware [2021] WTLR 725
Wills & Trusts Law Reports | Summer 2021 #183The claimant’s father (the testator) died on 21 October 2003 leaving his half share in the matrimonial home and his residual estate to his wife, the defendant, absolutely. On 4 October 2005 the defendant varied those dispositions by a deed of variation which, for inheritance tax purposes, was read back to the date of the testator’s death. The deed of variation created two trusts: the property trust and the will trust.
The property trust held the testator’s half share in the matrimonial property on trust for the defendant for life, with the remainder to the claima...
Commissioners for HMRC v Parry & ors [2020] WTLR 1151
Wills & Trusts Law Reports | Winter 2020 #181The appellants were the three executors of Mrs Staveley’s estate, two of whom were also her sons. Mrs Staveley held a pension scheme on which she had decided never to draw, with the aim of maximising the death benefit that would accrue to her sons under the scheme. Under the terms of her will, her estate was to be held on trust for her two sons in equal shares. Shortly prior to her death Mrs Staveley had transferred funds from her existing pension scheme into a new personal pension plan (PPP). The motives out of which she had done so were contested between the parties, the appellants all...