Latest

 Article 
Author
Andrew Goldstone & Victoria Howarth
Source
Tax Journal
Date
21 November 2014

November Private Client Briefing from Tax Journal

The government’s discussion paper on the public register of corporate ownership highlights the difficulty of striking the right balance between the transparency of company ownership and providing sufficient protection for shareholders. A Constable painting is acquired by the nation as settlement for a £1m IHT liability, serving as a reminder both of the acceptance in lieu scheme and of the calibre of works required to qualify. The Court of Appeal judgment in Woodland Trust may affect many wills drafted before the advent of the transferable nil rate band, where the testator no longer has capacity to change the will. A taxpayer’s defeat before the First-tier Tribunal in a main residence case indicates the kind of evidence required in similar circumstances.

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