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9 Stone Buildings

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Giselle McGowan
Giselle McGowan
Lawyer
9 Stone Buildings
Graham Callard
Graham Callard
Barrister
9 Stone Buildings
Contributions by 9 Stone Buildings Experts

107

Excluded property trusts—key events affecting IHT status
Excluded property trusts—key events affecting IHT status
Practice notes

This Practice Note produced in partnership with Graham Callard of 9 Stone Buildings deals with the key events that affect the inheritance tax status of an excluded property trust, including where: property is added to a settlement after a change of domicile; property is transferred between settlements; an excluded property interest is purchased; an initial interest in possession held by the settlor or his spouse/civil partner comes to and end; and a trust within a special charging regime ceases to satisfy the qualifying conditions for exclusion from the relevant property regime.

Force majeure notice
Force majeure notice
Precedents

This Precedent is a letter by which one party to a contract gives notice to the other of a force majeure event for which it claims relief under the contract. It is suitable for use in connection with business to business contracts only.

Do trustees have the power to pay income to the parent of an adult (under 25 years of age) beneficiary of an old accumulation and maintenance trust?
Do trustees have the power to pay income to the parent of an adult (under 25 years of age) beneficiary of an old accumulation and maintenance trust?
Q&As

Do/can you use a ‘Rights of Third Parties’ clause in trust documents, eg a deed of appointment appointing trust assets to a beneficiary, and if so is it likely to be enforceable, or are these clauses only used in contracts/commercial transactions?
Do/can you use a ‘Rights of Third Parties’ clause in trust documents, eg a deed of appointment appointing trust assets to a beneficiary, and if so is it likely to be enforceable, or are these clauses only used in contracts/commercial transactions?
Q&As

Does a deed of novation replace the original contract or is it purely transferring the benefits and liabilities to a third party as a supplemental agreement?
Does a deed of novation replace the original contract or is it purely transferring the benefits and liabilities to a third party as a supplemental agreement?
Q&As

Does a document appointing an attorney need to state that it is a power of attorney for it to be effective as such? If a document giving authority to one party to act on behalf of another is silent as to whether it is a power of attorney, do the general principles of agency apply to such appointment and the extent of the authority granted?
Does a document appointing an attorney need to state that it is a power of attorney for it to be effective as such? If a document giving authority to one party to act on behalf of another is silent as to whether it is a power of attorney, do the general principles of agency apply to such appointment and the extent of the authority granted?
Q&As

Does the 14-day cooling off period under the  Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, SI 3134/2013 apply to computer equipment which has been opened and the manufacturer's seal broken?
Does the 14-day cooling off period under the  Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, SI 3134/2013 apply to computer equipment which has been opened and the manufacturer's seal broken?
Q&As

Does the operator of a marketplace platform service need to ensure that all Schedule 2 information is provided in respect of traders selling using the platform—or just that specified in Schedule 2(c) (geographical and identity)?
Does the operator of a marketplace platform service need to ensure that all Schedule 2 information is provided in respect of traders selling using the platform—or just that specified in Schedule 2(c) (geographical and identity)?
Q&As

How should a deceased’s interest in three commercial properties be recorded on the estate inheritance tax return where the deceased was sole legal owner but had made an oral declaration many years ago that the property was held on trust for themselves, their spouse and their children and the family members have received and paid tax on their ‘share’ of the rental income?
How should a deceased’s interest in three commercial properties be recorded on the estate inheritance tax return where the deceased was sole legal owner but had made an oral declaration many years ago that the property was held on trust for themselves, their spouse and their children and the family members have received and paid tax on their ‘share’ of the rental income?
Q&As

If in a business to business contract for the provision of goods, the buying party rejects goods alleging non-compliance with one or more of the implied terms in the Sale of Goods Act 1979 as to quality, fitness for purposes etc and insists that the seller comes and takes the goods away, can the selling party 'safely' agree to take the goods back without prejudice to its right to sue for payment of them?
If in a business to business contract for the provision of goods, the buying party rejects goods alleging non-compliance with one or more of the implied terms in the Sale of Goods Act 1979 as to quality, fitness for purposes etc and insists that the seller comes and takes the goods away, can the selling party 'safely' agree to take the goods back without prejudice to its right to sue for payment of them?
Q&As

In a contract for the sale of goods (business to business), is the buyer entitled to reject the goods if they do not conform to specification in circumstances where the buyer has, subsequent to delivery by the seller, shipped the goods onwards to a third country? Is the supplier liable to refund the price of the goods before they receive the returned goods?
In a contract for the sale of goods (business to business), is the buyer entitled to reject the goods if they do not conform to specification in circumstances where the buyer has, subsequent to delivery by the seller, shipped the goods onwards to a third country? Is the supplier liable to refund the price of the goods before they receive the returned goods?
Q&As

In a homemade Will, the revocation clause states that the testator declares the Will to be their last Will for all purposes of the Trusts of Land and Appointment of Trustees Act 1996 and the Trustee Act 2000. Does this limit the exercise of the executors’ powers? What does this mean (if anything) and how should this be interpreted?
In a homemade Will, the revocation clause states that the testator declares the Will to be their last Will for all purposes of the Trusts of Land and Appointment of Trustees Act 1996 and the Trustee Act 2000. Does this limit the exercise of the executors’ powers? What does this mean (if anything) and how should this be interpreted?
Q&As

In a life interest trust where the life tenant has already disclaimed their life interest, is it possible for the life tenant and remainderman to enter into a deed of variation recording the fact that the life tenant is to take absolutely?
In a life interest trust where the life tenant has already disclaimed their life interest, is it possible for the life tenant and remainderman to enter into a deed of variation recording the fact that the life tenant is to take absolutely?
Q&As

In a scenario where two licences are contained in one agreement, in the absence of any express contractual terms, does a breach of one licence affect the validity of the other licence, or do they operate independently? What is the situation where the licence that has been breached (Licence A) has already terminated when the breach was discovered, and the other licence (Licence B) only took effect on the termination of Licence A?
In a scenario where two licences are contained in one agreement, in the absence of any express contractual terms, does a breach of one licence affect the validity of the other licence, or do they operate independently? What is the situation where the licence that has been breached (Licence A) has already terminated when the breach was discovered, and the other licence (Licence B) only took effect on the termination of Licence A?
Q&As

In administering an estate where the residue is to be divided into one hundred equal shares, on calculating the various shares it actually amounts to one hundred and three shares. There are charitable and non-charitable beneficiaries. What should be done?
In administering an estate where the residue is to be divided into one hundred equal shares, on calculating the various shares it actually amounts to one hundred and three shares. There are charitable and non-charitable beneficiaries. What should be done?
Q&As

In the event of a product fault due to user error and where the terms of a B2B manufacturer warranty do not specify taking security (eg credit card details or a purchase order), must the customer provide such details before the call out under the warranty?
In the event of a product fault due to user error and where the terms of a B2B manufacturer warranty do not specify taking security (eg credit card details or a purchase order), must the customer provide such details before the call out under the warranty?
Q&As

In what circumstances in a life interest trust is it possible to appoint capital to the life tenant? This is asked in the context of a trust where the life tenant and the remaindermen are all in agreement to capital being appointed to the life tenant and wish the trust to continue.
In what circumstances in a life interest trust is it possible to appoint capital to the life tenant? This is asked in the context of a trust where the life tenant and the remaindermen are all in agreement to capital being appointed to the life tenant and wish the trust to continue.
Q&As

In which types of commercial agreement would it be appropriate to use a clause such as Precedent: Anti-tax evasion facilitation clause-pro-customer, in order to discharge a party's obligations under the Criminal Finance Act 2017 (CFA 2017) (and similar foreign anti-tax evasion legislation)?
In which types of commercial agreement would it be appropriate to use a clause such as Precedent: Anti-tax evasion facilitation clause-pro-customer, in order to discharge a party's obligations under the Criminal Finance Act 2017 (CFA 2017) (and similar foreign anti-tax evasion legislation)?
Q&As

Is a contract between a company and a third party which is entered into in breach of the company’s articles of association enforceable?
Is a contract between a company and a third party which is entered into in breach of the company’s articles of association enforceable?
Q&As

Is a professional attorney under a lasting power of attorney able to disclaim the appointment even if they have already started acting?
Is a professional attorney under a lasting power of attorney able to disclaim the appointment even if they have already started acting?
Q&As

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