Palliser v HMRC [2018] WTLR 287
Wills & Trusts Law Reports | Spring 2018 #171The appellant, Mr Palliser, disputed the valuation, for inheritance tax purposes, of a property in which his father’s estate owned an 88.4% share in the long leasehold and a third of the freehold title of the building it which it is located. HMRC had determined that the market value of the estate’s share at the date of the deceased’s death was £1,829,880. This determination was subsequently upheld; Mr Palliser appealed against those decisions, and submitted that the correct valuation should be £1,113,840.
The principal matter in issue was the correct interpretation of s.160 of...