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M Scott (TC4455)
The taxpayer and his brother were joint executors of their mother’s estate.
A dispute arose with HMRC over whether inheritance tax (IHT) was due on several paintings that had been given to the brothers by the mother and a great aunt.
The taxpayer said his mother gifted the artworks in 1985. They were removed from the family home given to him and his sibling (who died in 2009) and then re-hung in the family home because neither brother had a suitable home in which to keep them at the time.
The great aunt expressed an intention in the same year to give some paintings to the brothers although the works remained in her house until she moved into care in 1991. They were then delivered to the brothers’ family home.
The Revenue insisted the paintings remained with the parents which did not amount to delivery.
The...
