Next Steps in Reforming IHT Periodic Charges for Relevent Property Trusts

Following a consultation this summer, draft legislation for inclusion in Finance Bill 2014 on the treatment of accumulated income and the alignment of payment and filing dates for trusts was published on 10 December 2013 for technical consultation. The Government has indicated it would welcome comments. If necessary they will review and amend that legislation…

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Chancellor Cuts PPR Relief Period in Autumn Statement

While measures designed to ensure non-UK residents paid CGT on the sale of residential property were widely trailed in the media prior to today’s Autumn Statement, another measure that will affect many vendors also slipped by relatively unnoticed. Today the Chancellor announced HM Government’s intention to cut in half the final period exemption for Principal…

High Court Orders Disclosure of Offshore Trusts in Divorce Proceedings

The High Court in Tchenquiz-Imerman v Imerman [2013] EWHC 3627, has held that disclosure orders made against beneficiaries of discretionary Jersey trusts were justified, proportionate and necessary to support ancillary relief proceedings brought by their step mother against their father. This interesting case provides practitioners with an indication about the willingness of English Courts to…