163;9 Million Settlement Reasonable, Rules Court
When a married, middle-aged multimillionaire became enamoured with a much younger woman, leading to an acrimonious divorce, a dispute over the family assets was inevitable. The husband had inherited an...
View ArticleBusinessman UK Resident Despite HMRC Guidance
The Supreme Court recently handed down its judgment in the case of Gaines-Cooper v Revenue and Customs. In what will be a suprising decision to many, the Court has ruled in favour of HM Revenue &...
View ArticleHMRC Gain From IHT Challenges
In 2011, HM Revenue and Customs (HMRC) challenged more than 10,000 Inheritance Tax (IHT) returns, according to accountants UHY Hacker Young. Each challenge yielded an average increase in IHT payable of...
View ArticleEx-Wife Responsible for Own Financial Arrangements
The courts have recently been asked to rule in a case in which the ex-wife of a wealthy businessman sought an increase in the financial provision she received from her ex-husband following their...
View ArticleInterest on Missing Son's Life Assurance Taxable
When a geologist went missing in Angola in 1998 and was never heard from again, he was presumed to have been killed. Eventually, four years after his disappearance, his life assurance provider agreed...
View ArticleScots Change Intestacy Law
The laws of intestacy that apply in Scotland are not the same as those in England and Wales. However, following recent changes to the laws in England and Wales relating to the entitlement of relatives...
View ArticleConfused and Inebriated Not Grounds for Invalidating Will
When an elderly woman decided to make a new will giving her entire estate to her neighbour, the attendance note prepared by the firm she had initially approached to do the work formed a large part of...
View ArticleHomeowners Triumph in Storm Damage Claim
Householders whose homes suffered storm and flood damage reluctantly found themselves at the epicentre of a High Court case in which they defeated claims that they should be held personally liable to...
View ArticleCourt Applies Strict Letter of Consumer Protection Law
A case concerning a contract between a man who ran a removal business and a house owner, which was made at the home of the latter and followed up by an email confirming the contractual terms, has...
View ArticleAirline responsible for Direct Costs Only
Passengers holding confirmed airline reservations often think that guarantees them a seat on the flight, but anyone who has been 'bumped' knows this not to be true. Airlines regularly overbook flights,...
View ArticleSisters Lose Battle Over Father's Estate
Three sisters who challenged their late father’s will have lost their battle at the High Court. The will was made the day George Wharton, who was suffering from terminal cancer, was discharged from...
View ArticleDivorced Couple Share Assets and Debt
A husband has been ordered to pay his ex-wife more than £4 million in a divorce settlement that treats the wife’s substantial debts as being shared between them. The settlement awards the wife the...
View ArticleFacts Critical in Residence Claim
HM Revenue and Customs (HMRC) are quick to recognise easy pickings when transactions occur and the conditions for relief against the relevant taxes are not met. One of HMRC’s favourite targets – and...
View ArticlePaying Charitable Trustees
Although it clashes with the principle of giving one’s time voluntarily, the demands and responsibilities put on some trustees of charities are such that paying them will be a necessity in order to...
View ArticleUnreasonable Behaviour Leads to Access Limitation
The normal presumption of the family court is that a child will benefit from contact with both of its parents. However, when a judge heard evidence of numerous examples of unreasonable behaviour by a...
View ArticleTax Return Not Definitive for Assessing Income for Child Support
When a child maintenance assessment is made, the court is entitled to rely on all the information available to it to set the appropriate liability to pay maintenance. This may or may not mean relying...
View ArticleEarning Capacity Not an Asset
When settlements in divorce cases are being determined, the contributions made to the marriage by each party will often be relevant. However, a recent decision of the Court of Appeal illustrates that...
View ArticleHMRC Crack Down on Foreign Property Tax Avoidance
HM Revenue and Customs (HMRC) have tasked a new team of 200 investigators and specialists, the ‘Affluent Team’, with identifying wealthy tax avoiders. One of the first targets of the team is wealthy...
View ArticleHMRC Checks on IHT Valuations
In the year to December 2010, HM Revenue and Customs (HMRC) raised in the region of £70 million in additional tax as a result of challenging property valuations included in the estates of people who...
View ArticleNSI Withdraws Savings Certificates
Just four months after relaunching Index-linked Savings Certificates, the Government-backed savings institution National Savings & Investments (NS&I) has withdrawn its Savings Certificates from...
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