Trusts and Estates

One of the most controversial aspects of the Pre-Owned Asset Charge (Sched 15 Finance Act 2004) was its retrospective effect, imposing the new tax charge as a result of transactions which may have taken place as long ago as March 1986. For those who..

The massive upheaval in the IHT treatment of trusts following the 2006 Budget and Finance Act makes it clear that, in the Revenue eyes, the normal tax regime will be that which, before 22 March 2006, applied in practice only to property held on..

Ruth Moore, Solicitor, Private Client department and Charlotte Ballard Scott, Partner, Divorce and Family Breakdown department, Kingsley Napley. www.kingsleynapley.co.uk

The House of Lords will hear HMRC(S)’s appeal against the decision of the Court of Appeal in the case of Jones v Garnett (Artic Systems Ltd) on 5 to 7 June 2007. The Jones v Garnett case concerns arrangements involving a company called..

It is well known that the definition of ‘Agricultural Property’ which may qualify for relief under Chapter II of Part V of the IHT Act 1984, includes farmhouses. It is a requirement that, to qualify for relief, the farmhouse must be..

After the upheaval in the IHT rules governing trusts which erupted from the 2006 Budget, probate and trust practitioners must feel relieved that the Chancellor did not seem to have singled them out for special treatment in his Pre-Budget Report on 6..