Private client review for May 2022
30 May 2022In this article, the May monthly update review for Tax Journal, Edward Reed and Thomas Schlee look at a number of private client developments.
This month, we comment on the recent FTT decision in Sweby, reminding us of the importance of process in tax disputes. For UK residential properties held through non-natural persons, new valuations are required for ATED payments. The FT judgment in McEnroe highlights the importance of accurate drafting to ensure that the tax consequences of a transaction reflect the economic outcome.
Clarification on two charity law points has been provided over the last month. Finally, a recent High Court case on the ostensibly Dickensian concept of "fraudulent calumny" highlights that advisers’ evidence may make the difference between a will surviving challenge and not.
Get in touch