Olins v Walters
Thursday, 20th December 2007
[2007] All ER (D) 291 (Dec); 19 December 2007; Chancery Division; Norris J
This was a claim about mutual wills. A clause in a codicil executed by each of the testators provided:
HMRC IHT & Trusts Newsletter – December 2007
Thursday, 20th December 2007
HMRC have published the second issue of their joint IHT & Trusts Newsletter. It deals with the following topics:
Capital Gains Tax in the House
Friday, 14th December 2007
The Chancellor of the Exchequer was yesterday questioned in the Commons about the future of capital gains tax. He was not ready to make a definitive statement about it, saying that he would tell the House when he was ready. The full exchange was as follows:
Stockler Charity (a firm) v Revenue and Customs Commissioners
Friday, 14th December 2007
[2007] All ER (D) 201 (Dec); [2007] EWHC 2967 (Ch); 13 December 2007; Chancery Division; Warren J
The applicant firm prepared tax returns and submitted them to the Revenue, which amended the returns. An appeal to the Special Commissioners against the decision was dismissed. After an appeal to the High Court, the applicant made a Part 36 offer to settle, which was accepted by the Revenue. The Revenue withdrew the amendment but subsequently made a penalty determination.
Gift Aid Consultation
Thursday, 13th December 2007
Jane Kennedy MP, who is the Financial Secretary to the Treasury, has announced the publication of the summary of responses to the Treasury’s Gift Aid consultation. Over 300 people and a diverse range of organisations submitted responses.
The Trusts (Guernsey) Law, 2007
Thursday, 13th December 2007
Today I received my “Ogier Guernsey Updater” and it contains several items of interest, including a short piece about the new Trusts Law. It has been approved by the States of Guernsey, and is expected to receive Privy Council approval shortly and be in force by the start of 2008. They tell me that the changes have been extensive and the existing Trusts (Guernsey) Law, 1989 has been replaced, rather than amended.
