Trusts

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A grandfather set up a trust for his grandchildren, who are to become entitled to the capital at the age of 18. A distribution has recently been made to the first child to reach this age. What are the tax consequences?

CRC v Bower and other (executors of Bower (deceased)), Chancery Division, 5 November 2008

CHARLES GOTHARD, LISA-JANE FAWCETT and SIMON JENNINGS look at the deductibility of trust expenses against income in the light of the Peter Clay decision

CRC v Trustees of the Peter Clay Discretionary Trust, Court of Appeal, 19 December 2008

Will offshore trusts remain useful for wealth management in 2009, asks CAMILLA VIVIAN

Bare trusts and minors and chargeable events — an HMRC clarification. JOHN WOOLLEY explains

Concerns treatment of chargeable event gains arising on life insurance policies

Offshore trusts: are they still shipshape, or have they been fatally holed below the waterline, asks LOUISE SOMERSET

HUI LING MCCARTHY reviews the Special Commissioners' decision in Sempra Metals Ltd

Is the Finance Bill evidence of a retrospective invasion by the Scots? BARRY BRINSMEAD and JOHN HIDDLESTON consider the latest attack on offshore trusts

HMRC publishes Trusts Settlements and Estates Manual

Body calls for CGT changes for trusts and companies set up by the non-domiciled to be halted until they can be properly assessed

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