Trustees are protected by anti-Bartlett clauses, says Hong Kong appeal court An important judgment by the Hong Kong Court of Final Appeal (CFA) establishes that so-called anti-Bartlett clauses in the trust deed of a Jersey family trust exempted the trustees from any liability for losses incurred in transactions by the trust’s underlying investment company (Arboit,...Read More

The total number of trusts and estates registered for self-assessment declined by 6 per cent to 149,000 in 2017-2018, continuing the downward trend that has seen the numbers fall by 29 per cent since 2005. However, trusts’ total declared income for the year rose 12 per cent to GBP2.73 billion year-on-year. Chargeable gains were unchanged...Read More

Welcome to the August 2019 edition of the HM Revenue and Customs (HMRC) Trusts and Estates Newsletter. Please note we do not have a mailing list for the newsletter. Agent Toolkits Tax agents and advisers play an important role in helping their clients to make sure their tax returns are correct, but many agents do...Read More

The Tel Aviv District Court has rejected the Israel Tax Authority’s (ITA’s) position that the transfer of real property into an Israeli residents’ trust is taxable as a sale of a right in land. The case concerned some Canadian residents who established a trust for their Israeli granddaughter, and transferred several Israeli properties into it...Read More

The trustees of a GBP80-million discretionary settlement executed in 1968 have obtained court permission to treat one of the settlor’s descendants as a beneficiary, although she was born before her parents married. The trust’s current governing deed requires the trust fund to pay the income for life to the settlor’s grandchildren, RS and TU (all...Read More