IHT & Trusts Newsletter - August 2008
Wednesday, 20th August 2008
On 20th August 2008, HMRC published the August edition of the IHT and Trusts Newsletter. It includes articles on the transferable nil rate band, the inheritance tax account, the need to complete an IHT100 for transactions under section 144 of the 1984 Act, Northern Rock shares, a change of email addresses and a change of policy about notification of the newsletter by email.
How to use the Remittance Basis of Taxation from 6 April 2008
Wednesday, 23rd July 2008
From the horse’s mouth, so to speak. HMRC have published guidelines on the use of the remittance basis under the new provisions.
Finance Act 2008
Tuesday, 22nd July 2008
The Finance Act 2008 has received Royal Assent.
New Bill to tackle living together injustice
Friday, 18th July 2008
It has been announced by Living Together that Lord Lester is to introduce a Bill later this year to “end the injustice and financial hardship faced by thousands of cohabiting couples, carers and siblings who live together”.
Treatment of Northern Rock shares for the purposes of inheritance tax relief
Wednesday, 9th July 2008
HMRC have released a question and answer document dealing with the position where an individual died between 22 February 2007 to 21 February 2008 owning shares in Northern Rock, and the shares were subsequently taken into temporary public ownership before either being sold by the personal representatives or transferred to a beneficiary of the will or under the deceased’s intestacy.
Henwood v Barlow Clowes International Ltd (in liquidation) (CA)
Wednesday, 4th June 2008
[2008] EWCA Civ 577; Court of Appeal, Civil Division; Waller, Arden and Moore-Bick LJJ; [2008] All ER (D) 330 (May)
Allowing an appeal against the decision of Evans-Lombe J (see a post about that decision here), the Court of Appeal held that the respondent to the bankruptcy petition was domiciled in England and Wales. At the relevant time he had lost his domicile of choice and had not yet taken up a new domicile of choice; therefore his domicile of origin had revived.
