.png)
.png)
24 April 2012
A and A’s trust; A commercial rent; Drive, they said; House and bond
A and A’s trust
I act for the trustees of a non-charitable discretionary trust which was set up by my client A on 7 March 1998. The beneficiaries of the trust are the grandchildren of A.
A died on 17 April 2010.
Some years ago the trustees invested in an insurance bond (not on the life of A). The insurance bond was surrendered on 2 April 2011 showing a five-figure gain. I have a disagreement with the investment advisers to the trust as to who should be assessed to tax on this gain. Is it:
- the executors of A – under ITTOIA 2005 s 465 (as would certainly have been the case had A been alive at the date of surrender on 2 April 2011); or
- the trustees of the trust –...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
