Source: All England Reporter
Publisher Citation: [2012] All ER (D) 109 (Dec)
Neutral Citation: [2012] UKUT 360 (TCC)
Court: Upper Tribunal (Tax and Chancery Chamber)

Proudman J

Representation Robin Mathew QC and Georgia Bedworth (instructed by Bracher Rawlins LLP) for the beneficiaries.
  Matthew Slater (instructed by the Solicitor to the Revenue and Customs Commissioners) for the Revenue.
Judgment Dates: 19 October 2012


Inheritance Tax - Exemptions and Relief - Lifetime Transfer - Property subject to a reservation of benefit gifted by taxpayer - Whether inheritance tax payable - Whether future underlease had been, in relevant period, enjoyed to entire exclusion of donor - ,

The Case

Inheritance Tax Exemptions and Relief. The Upper Tribunal (Tax and Chancery Chamber) upheld the decision of the First-tier Tribunal (Tax Chamber) (the FTT) which decided that inheritance tax should be paid on a transfer of a lease which had taken place within seven years of the death of the testatrix as the gift in question was a gift with a reservation of benefit, thereby subject to tax as provided by of the Finance Act 1986. Accordingly the appellants' appeal against the decision of the FTT was dismissed.

Practice Areas

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