*Barclays Wealth Trustees (Jersey) Ltd and another v Revenue and Customs Commissioners

Trust and trustee – Discretionary trust. The Chancery Division dismissed the appellant taxpayers' appeal against a determination of a liability for inheritance tax said to have arisen in relation to the ten-year charge applicable to trusts. It held that, on the correct interpretation of the Inheritance Act 1984, the property in question was not 'excluded property' and so the ten year charge applicable to trusts would apply.

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