Viscount Hood, Executor of the Estate of Lady Diana Hood v The Commissioners for HM Revenue and Customs: [2017] UKUT 0276 (TCC)

Upper Tribunal Tax and Chancery decision of Mrs Justice Rose and Judge Bishopp on 7 July 2017.

Read the full decision in Viscount Hood, Executor of the Estate of Lady Diana Hood v The Commissioners for HM Revenue and Customs: [2017] UKUT 0276 (TCC).

INHERITANCE TAX – deceased granted reversionary sub-lease to sons out of her head leasehold interest – licence to sub-let given by head landlord to deceased – sub-lease provided for same covenants, including repairing covenants, as in head lease – whether property disposed of by way of gift was subject to a reservation under s 102 FA 1986 – application of second limb of s 102(1)(b) – identification of donated property – whether benefit ‘trenched upon’ donees’ enjoyment of the donated property - Buzzoni considered.

Published 7 July 2017