COURT OF SESSION (FIRST DIVISION)–

3RD AND 23RD JUNE 1971

Capital gains tax – Expenses – Settled property – Deemed disposal by trustee – Persons becoming absolutely entitled as against trustee – Settled fund divided between liferentrix and fiar – Costs of legal and actuarial advice – Stamp duty on transfers, etc. – Whether deductible – Finance Act 1965 (c. 25), s. 25(3) and Sch. 6, para. 4.