The following Private Client Q&A Produced in partnership with Ward Hadaway provides comprehensive and up to date legal information covering:
On the death of a testator, a liability to inheritance tax (IHT) will depend on several factors including the extent to which reliefs and exemptions are available such as spouse exemption and agricultural property relief (APR). The reversionary gift to charity is ignored for the purpose of calculating the rate of tax on the testator's death and charity exemption is not available because the charity does not take immediately and outright on the testator's death (Section 23(2)(a) of the Inheritance Tax Act 1984 (IHTA 1984)).
Will trusts will either be relevant property trusts (defined in IHTA 1984, s 58) for inheritance tax or qualifying interests in possession (defined in IHTA 1984, s 59). For further details on these differing types of trust, see Practice Notes: The meaning of relevant property, The meaning of qualifying interest in possession and Qualifying interest in possession trusts—IHT treatment.
If the trust is a relevant property trust then it will be subject to periodic charges and exit charges (see IHTA 1984, ss 58–63). These charges are explained in the Practice Notes: Relevant property trusts—the principal (ten-year) charge and Relevant property trusts—the ex
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When defendants are guilty, they have a choice to plead guilty or to put the prosecution to proof. When they plead guilty they may benefit from a reduction in their sentence as a result, see Practice Note: Credit for guilty plea. However, the Sentencing Council's overarching guidelines on reduction
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An intention to create legal relations is requiredThere are various situations in which a court will hold that an agreement is not binding because, though supported by consideration, it was made without any intention of creating legal relations (see, eg, Blue v Ashley).Did the parties intend to
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