Charities—execution of documents

Execution formalities—non-Companies Act companies

'Non-Companies Act companies' are corporations created by statute such as local authorities, building societies and incorporated charities.

Any person who is authorised whether expressly or impliedly to act on behalf of a non-Companies Act company can contract on behalf of the various types of corporation.

See Practice Note: Execution formalities—non-Companies Act corporations.

Execution formalities—unincorporated associations

An unincorporated association has no legal identity, which means it cannot enter into contracts in its own name. As such, an unincorporated association has no rights and cannot perform duties or own property. Property ‘belonging’ to an unincorporated association will be vested in the leading members of the organisation who act as trustees and hold property on trust for the remaining members of the organisation.

Execution formalities applying to unincorporated associations will be the same as those applying to private

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All in? Court confirms when a settlement is 'made' for the purposes of excluded property (Accuro Trust (Switzerland) SA v The Commissioners for HMRC)

Private Client analysis: This case considered the meaning of 'relevant property' under the settlements regime of the Inheritance Tax Act 1984 (IHTA 1984) and, in particular, the time at which this definition is to be tested. The question arose as to whether the trustees of an offshore trust established by a non-UK domiciled settlor were subject to the UK settlements regime in respect of property added to the trust after the settlor became deemed domiciled in the UK, or whether they were exempt from such charges as the trust consisted solely of excluded property. The First-tier Tribunal (FTT) held that whether trust property is excluded property is based on the status of the trust at the time that it was established, not at the time that the property in question was added to the settlement. As a result, the trust in this case did consist solely of excluded property and no inheritance tax (IHT) charges arose as a result of either the ten-year anniversary or capital distributions. The FTT was also asked to consider whether their jurisdiction was appellate, or supervisory only. The FTT held that, while their jurisdiction was supervisory, the questions raised by the trustees were relevant in establishing whether HMRC had acted reasonably and that the outcome (ie that the paid IHT should be refunded and that no further IHT was due) would be the same in either case. Written by Katherine Willmott, senior associate solicitor at Foot Anstey LLP.

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