This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our privacy notice.

Application for new grounds of appeal accepted in relation to a trustee’s potential liability to trust’s capital gains tax

By Mark McLaughlin, July 2019

In relation to the potential liability of trustees to CGT liabilities of a trust, an application to advance new grounds of appeal in relation to the appointment of one of the appellant trustees was allowed.  
 
The second appellant (Mrs M) signed a 'Deed of appointment and retirement' appointing her as a new trustee of a trust on 19 March 2003. On the same date, she also signed a 'Deed of indemnity' relating to the trust.  
 
Mrs M signed an 'Agency agreement' dated 26 March 2003. She also signed a 'Resolution of the trustees' 1 April 2003, which recorded her resolution, as a trustee, to establish a trust bank account in the Isle of Man and to transfer the trust fund to it. 
  
In May 2013, HM Revenue and Customs (HMRC) amended the appellants' self-assessment return for the tax year 2002/03 (under TMA 1970, s 9C) to bring into charge a capital

Subscribe to the McLaughlin’s Tax Case Library to get instant access
to the Tax Case Library.
14 day free trial , 90 day money back guarantee
Subscribe

Related or similar articles

Special Circumstances Existed For Late Filing Of Non-Resident CGT Returns
By Mark McLaughlin, April 2018
HMRC Had Power To Enquire Into Its Own Calculations
By Mark McLaughlin, October 2017
Reliance On Professional Advice Was Not Careless
By Mark McLaughlin, February 2017
Discovery Assessment In Connection With Tax Avoidance Scheme Was Validly Made
By Mark McLaughlin, October 2014
Tribunal Did Not Have Jurisdiction To Consider Taxpayer’s Legitimate Expectation Argument
By Mark McLaughlin, September 2014