A woman who lived rent-free in a house settled in an offshore trust by her late husband was liable to GBP163,414 income tax under the transfer of assets abroad (TOAA) legislation even though she was not the transferor, the First-tier Tax Tribunal has ruled (Moran v HMRC, 2025 UKFTT 540 TC). It ruled that the ‘motive defence’...
A couple who bought a property for GBP9.75 million, demolished and rebuilt it, then sold it for GBP27.15 million, have won their appeal against a GBP3.3 million capital gains tax charge. Raymond and Diana Eyre successfully claimed they were not developing in the nature of a trade and the house was their principal private residence...
TAXATION: Agents given access to personal tax query resolution service HMRC’s new personal tax query resolution service for agents is now live, offering representatives a quicker way of chasing up unanswered queries to HMRC’s helplines. Before using the service, agents must check the ‘where’s my reply tool’, with at least 20 working days having passed...
TAXATION: Companies cautioned over using prepaid debit cards for tax-free profit extraction HMRC is warning companies not to use a scheme that uses advertising and marketing expenditure to reduce taxable profits and disguise employment income in the form of redeemable loyalty points. Scheme users buy advertising from the arrangement’s promoter and claim a deduction for...
VULNERABLE CLIENT: The Celebrity’s statutory will hearing cannot be published In W v P (2025 EWCOP 11 T3), the wife of a now-incapacitated celebrity (P) applied to the England and Wales Court of Protection to make a statutory will for him for estate planning purposes. She asked for the associated hearing to be held privately. The judge decided...
CONTENTIOUS ESTATES: Missing will must be presumed revoked, says EWHC The judgment in Packer v Packer (2025 EWHC 461 Ch) is the first successful application of the presumption of revocation of a will for almost two decades. It extends the scope of the presumption of due execution. Stephen Packer’s widow alleged that he died intestate; however, his sister...
The First-tier Tax Tribunal (ftt) has ruled that a rabbi who resided in the UK for most of his life, raised a family, and built up a property business in Manchester was UK-domiciled for tax purposes (Weis v HMRC, 2025 UKFTT 348 TC). He claimed he intended to make Israel his permanent home; however, the FTT found...
Trustees of the Saint George Educational Trust have been removed and replaced with interim managers, after the Charity Commission for England and Wales (the Charity Commission) found the chairman had allowed the charity’s bank account to receive donations from unknown sources, which were then transferred to entities unknown to the trustees. The misconduct was discovered...
Hundreds of Families Fall Foul of the Seven-Year Inheritance Tax Rule Inheritance Tax (IHT) can be a significant burden for many families, especially when they inadvertently fall into a trap laid out by complex tax regulations. One such rule that often catches people off guard is the seven-year inheritance tax rule. Understanding this rule and...
LAND AND PROPERTY: In Matthews v Matthews (2024 EWHC 2182 Ch), a solicitor acting on behalf of an elderly farmer attempted to sell some of his land to cover tax bills and care fees. This sale was challenged by the farmer’s second cousin, who claimed a prior right of first refusal at market price. The...
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Copyright by CareAccountancy. All rights reserved.
