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Supreme Court finds taxpayer had not made deliberate inaccuracy and that staleness is not relevant to discovery (HMRC v Raymond Tooth)

The following Private Client news provides comprehensive and up to date legal information on Supreme Court finds taxpayer had not made deliberate inaccuracy and that staleness is not relevant to discovery (HMRC v Raymond Tooth)

Claimant recovers damages from MIB 24 years after accident—settlement approved, but amount to remain confidential (Johnson v Secretary of State for Transport and MIB)

Private Client weekly highlights—13 May 2021

The following Private Client news provides comprehensive and up to date legal information on Private Client weekly highlights—13 May 2021

Pension body eyes easing retirement plans transfer process

The following Private Client news provides comprehensive and up to date legal information on Pension body eyes easing retirement plans transfer process

Featured Private Client content

Creation of trusts in Scotland

Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...

UK taxation of offshore trusts—inheritance tax

An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...

Liferent trusts—Scotland

Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...

Partial deed of revocation of lasting power of attorney

This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...

Practice notes

Situs of assets for succession and IHT

When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...

9th Nov

Practice notes

Termination of trusts—beneficiaries

Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...

9th Nov

Practice notes

Termination of trusts—methods of termination

Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...

9th Nov

Practice notes

Trustees—power of advancement

Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...

9th Nov

Practice notes

Trust disputes—court jurisdiction and procedure

Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...

9th Nov

Practice notes

Cayman Islands STAR trusts—common uses

This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...

Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan

Practice notes

Bermuda trusts

This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...

Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan

Practice notes

Beddoe applications

When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...

Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan

Practice notes

What is an offshore trust?

A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...

Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan

Practice notes

Trust disputes—sham trusts

The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...

9th Nov

Practice notes

Offshore trusts—offshore income gains (OIGs)

Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...

9th Nov

Practice notes

The meaning of relevant property

The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...

Produced in partnership with Paul Davies of Clarke Willmott 12th Jan

Practice notes

Lifetime gifts

A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...

9th Nov

Practice notes

Nature and classification of trusts—the three certainties

CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...

9th Nov

Practice notes

Creation of trusts—blind trusts

What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...

Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 12th Jan

Practice notes

Notaries and notarisation—notarisation

The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...

9th Nov

Most recent Cross-border planning content

Practice notes

Execution of deeds—jurisdictional guide

Execution of deeds—jurisdictional guideThis guide sets out the requirements for executing deeds in various international jurisdictions. The table...

Produced in partnership with Diego Krischcautzky of Marval, O’Farrell & Mairal 15th May

Practice notes

Recognition of overseas divorce or dissolution of civil partnership

Recognition of overseas divorce or dissolution of civil partnership11pm (GMT) on 31 December 2020 marked the end of the Brexit...

13th May

Practice notes

Recognition of overseas marriage or civil partnership

Recognition of overseas marriage or civil partnershipIn contrast to the recognition of overseas divorce or dissolution of civil partnership, the...

13th May

Practice notes

Glossary of UK trust and taxation law terms for international clients

Glossary of UK trust and taxation law terms for international clientsAAdministrationThe process starting on the date of the deceased's death and...

13th May

Practice notes

Situs of assets for succession and IHT

Situs of assets for succession and IHTWhen you advise an individual on cross-border issues or offshore tax planning, it is important to establish the...

13th May

Practice notes

Recognition of grants and confirmations within the UK

Recognition of grants and confirmations within the UKFor probate purposes, the UK consists of three jurisdictions:•England and Wales•Scotland•Northern...

13th May

Q&As

A and B are the legal owners of a property situated in a EU state. They wish to execute a declaration of trust governed by English law stating that they hold the property on trust for A, B, C and D. Would HMRC be bound by such a declaration?

A and B are the legal owners of a property situated in a EU state. They wish to execute a declaration of trust governed by English law stating that...

13th May

Practice notes

Will drafting—applying the EU Succession Regulation

BREXIT IMPACT: As of exit day (31 January 2020) the UK is no longer an EU Member State. The effect of Brexit on the EU Succession Regulation...

Produced in partnership with Michael Wells-Greco and Sophie Hart of Charles Russell Speechlys 10th May

Q&As

Does Regulation (EU) 650/2012, known as the Succession Regulation (or Brussels IV) permit signatory states to apply their own private international succession laws to make referrals to other states or is a signatory state which is identified as that of the applicable law by the Succession Regulation required to apply only its own domestic law to the succession?

This Q&A assumes that the individual concerned died habitually resident in a signatory state, namely Malta.The main purpose of Regulation (EU)...

10th May

Practice notes

Domicile and habitual residence

11pm (GMT) on 31 December 2020 marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU....

Produced in partnership with David Salter, deputy High Court judge and Recorder 5th May

In-house

Practice notes

Foreign gift and estate tax—summary

Conflict of laws and taxThe fact that different states may use common law domicile, deemed domicile, applicable law, civil law domicile, tax...

Produced in partnership with Rebecca Fisher and Andrew Godfrey of Russell-Cooke Solicitors 9th Apr

Practice notes

Forced heirship and succession law

Which succession laws apply will be decided differently by different jurisdictions depending on the connecting factor accepted and used by that...

Produced in partnership with Richard Frimston, Andrew Godfrey and Patrick Malone of Russell-Cooke Solicitors 9th Apr

Practice notes

Cross-border post-death planning

This Practice Note summarises the issues that need to be considered when personal representatives wish to undertake planning to reduce or defer the UK...

Produced in partnership with Richard Frimston of Russell-Cooke Solicitors 9th Apr

Practice notes

Administration of estates—foreign assets

Common law and civil law principles affecting foreign estatesPersonal representatives (PRs) will come across foreign estates in the context of assets...

9th Apr

Practice notes

Estate administration—foreign assets and domiciles

English law distinguishes between the law governing the administration of a deceased's estate and that governing succession to the estate.In most...

9th Apr

Practice notes

Will drafting—Islamic Wills (Shia)

Every Muslim should deal with the distribution of their estate according to the principles of inheritance set by Islamic law. Dealing with all the...

9th Apr

Practice notes

Administration of trusts—foreign assets

Increasingly, UK trustees hold foreign assets as part of trust property. This may be because:•they have been put into trust by the original...

9th Apr

Practice notes

The taxation of trustee and trust funds in Malaysia

Trust law principlesA trust is not a legal entity in itself but is a legal relationship which involves a person (ie the settlor) transferring his or...

Produced in partnership with Adeline Wong, Istee Cheah and Lisa Yeoh of Wong & Partners 9th Apr

Practice notes

Jersey Wills for the non-domiciled testator

IntroductionIt is common for a person who is not domiciled in Jersey, but who has Jersey situs assets, to put a separate Jersey Will in place to...

9th Apr

Practice notes

Unilateral relief—UK IHT

Unilateral relief may be available as a credit against UK inheritance tax (IHT) where a tax of a character similar to IHT has been imposed on property...

Produced in partnership with Andrew Godfrey and Yousafa Hazara of Russell-Cooke Solicitors LLP 9th Apr