HOL UK [1968] 1 All ER 121
Gartside and Another v Inland Revenue Commissioners
Type
Case
Court
UK House of Lords - UK House of Lords
Jurisdiction
Dubai International Financial Centre, Wales, England
Taxonomy
General Real Property Law, Trust of Land, Regulatory Compliance
Copyright
LexisNexis
Decision date
13 Dec 1967
Hearing/Judgment date
3, 4, 5, 9, 10, 11, 12, 16, 17 OCTOBER, 13 DECEMBER 1967
Panel
LORD REID, LORD MORRIS OF BORTH–Y–GEST, LORD HODSON, LORD GUEST AND LORD WILBER–FORCE
Catchwords
Estate Duty – Determination of life interest – Discretionary trust – Accumulation of surplus income – Advancement determining discretionary trust in sums advanced – Meaning of "interest" and of "interest in possession" – Objects of discretionary trust not entitled individually or collectively to receive the whole or part of trust income – Whether any determination of interest rendering estate duty leviable on sums advanced – Finance Act 1894(57 & 58 Vict c 30), s 2(1)(b) – Finance Act 1940(3 & 4 Geo 6 c 29), s 43(1) as amended by Finance Act 1950(14 Geo 6 c 15), s 43(1), Sch 7, Pt 1.