Personal representatives | Croner-i Tax and Accounting

Accounting basis

Commentary – Tax Reporter ¶206-250

Accounting for VAT

Legislation/Regulatory – SI 1995/2518 reg. 30

Accounts

– see Accounts and statements

Accounts, delivery of

– see Delivery of accounts

Accrued income scheme

Commentary – Tax Reporter ¶333-600 ; Tax Reporter ¶334-450

Accumulations of income

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶36-010

Gifts to minors

Commentary – Rossdale: Probate and Administration of Estates ¶36-020

Inheritance tax

Commentary – Rossdale: Probate and Administration of Estates ¶36-030

Acquisition of assets by

Commentary – Tax Reporter ¶350-700 ; Tax Reporter ¶367-525

Acquisitions subject to excise duty by non-taxable persons

Legislation/Regulatory – SI 1995/2518 reg. 36(5)

Acting without authority

– see Executor de son tort

Actuarial valuations

Commentary – Rossdale: Probate and Administration of Estates ¶37-200

Adjusting probate value

Commentary – Ford on Tax Losses 5.3.7

Administrator, as

Commentary – Tax Reporter ¶365-225 ; Tax Reporter ¶365-375

Agents, appointment of

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶37-070

Liability for

Commentary – Rossdale: Probate and Administration of Estates ¶37-110

Review of arrangements

Commentary – Rossdale: Probate and Administration of Estates ¶37-110

As trustees

Commentary – Finney on Personal Representatives 2.1.3 ; Finney on Personal Representatives 6.8.1 ; Finney on Personal Representatives 7.2 ; Finney on Personal Representatives 7.3

Assessment

Generally

Legislation/Regulatory – VATA94 s. 73(5)

Interest overpayments

Legislation/Regulatory – VATA94 s. 78A(8)

Notification

Legislation/Regulatory – VATA94 s. 73(10)

Assessment on

Legislation/Regulatory – TMA70 s. 30AA, 40

Assessments

Generally

Commentary – Tax Reporter ¶184-375 ; Indirect Tax Reporter ¶58-005

Case Law – Harrison (H.M. Inspector of Taxes) v. Willis Bros.

Notification

Commentary – Indirect Tax Reporter ¶58-100

Assessments on

Commentary – Gordon on Discovery Assessments 8.1.3

Body, treatment as

Commentary – Tax Reporter ¶367-500

Business carried on by

Legislation/Regulatory – VATA94 s. 46

Capacity

Commentary – Stamp Taxes Reporter ¶130-500

Capital gains tax

Allowable expenditure

Commentary – Quick Overview ¶62770

Annual exempt amount

Commentary – Key Data ¶7-010

Legislation/Regulatory – TCGA92 s. 3A

Annual exemption

Commentary – Quick Overview ¶15000 ; Quick Overview ¶62775

Appeals, determination or agreement

– see Appeals

Disposals

Commentary – Quick Overview ¶62755

Expenses in administration of estates and trusts

Legislation/Regulatory – SP 2/04 ; TCGA92 s. 38, 64

Expenses, allowable expenditure

Commentary – Key Data ¶7-110 Key Data ¶7-120

General provisions

Legislation/Regulatory – TCGA92 s. 62

Legatees

Commentary – Quick Overview ¶62760

Liability

Commentary – Quick Overview ¶62755

Liability for tax

Legislation/Regulatory – TCGA92 s. 65

HMRC Guidance – CG30660 ; CG33500 ; CG37816

Losses

Commentary – Quick Overview ¶62755

Private residence relief

Commentary – Quick Overview ¶15535

Legislation/Regulatory – TCGA92 s. 225A

Rate

Commentary – Quick Overview ¶62775

Legislation/Regulatory – TCGA92 s. 4(1AA)

Rates

Commentary – Key Data ¶7-010

Taper relief

– see Taper relief

Upper rate gains

Commentary – Quick Overview ¶62775

Variation of dispositions taking effect on death

Legislation/Regulatory – TCGA92 s. 62(7)

HMRC Guidance – CG31210 ; CG31430 ; CG31820 ; CG31850 ; CG32000 ; CG37886 ; CG37888 ; CG37900 ; CG37901 ; SVM107140 ; TSEM6058 ; TSEM6113

Capital losses on death

Commentary – Ford on Tax Losses 5.1

Change of

Accounting basis

Legislation/Regulatory – ITTOIA2005 s. 240

Generally

Legislation/Regulatory – ITTOIA2005 s. 258

Charge to tax

Commentary – Tax Reporter ¶134-900 ; Tax Reporter ¶365-400

Legislation/Regulatory – ITEPA2003 s. 13(4)-(5)

Charge to tax on income paid to beneficiaries

– see Beneficiaries' income

Chargeable gains

Acquisitions

Commentary – Tax Reporter ¶367-525

Annual exemption

Commentary – Tax Reporter ¶367-100 ; Tax Reporter ¶535-175

Charge to tax

Commentary – Tax Reporter ¶367-000 ; Tax Reporter ¶503-050 ; Tax Reporter ¶503-350

Deed of family arrangement

– see Deed of family arrangement

Disposals

Commentary – Tax Reporter ¶367-550

Exemptions and reliefs

Commentary – Tax Reporter ¶367-625

HMRC Guidance – CG30700

Expenses

Commentary – Tax Reporter ¶367-575

Generally

Commentary – Tax Reporter ¶365-400

Liability

Commentary – Tax Reporter ¶367-675

Losses

Commentary – Tax Reporter ¶367-650

Private residence relief

Commentary – Tax Reporter ¶546-900

Qualifying corporate bonds

Commentary – Tax Reporter ¶559-500

Case Law – W.T. Ramsay Ltd v. Commissioners of Inland Revenue Eilbeck (H.M. Inspector of Taxes) v. Rawling

Rate of tax

Commentary – Tax Reporter ¶367-600 ; Tax Reporter ¶500-250

HMRC Guidance – CG30610

Taper relief

– see Taper relief (pre-6 April 2008)

Transfer of asset to legatee

Commentary – Tax Reporter ¶535-500

Claims against personal representatives by non-beneficiaries, limitation

Commentary – Rossdale: Probate and Administration of Estates ¶58-040 Rossdale: Probate and Administration of Estates ¶58-060

Claims by personal representatives, limitation

Commentary – Rossdale: Probate and Administration of Estates ¶58-020 Rossdale: Probate and Administration of Estates ¶58-030

Commissioners' regulations

Legislation/Regulatory – VATA94 s. 46(4)

Company distributions

Legislation/Regulatory – CTA2010 s. 1061

Company share option plans

Commentary – Dalby on Employee Share Schemes - Equity Reward for Private Companies 14.2.1

Completion of administration

– see Completion of the administration

Complex estates

Commentary – Finney on Personal Representatives 2.4.2

Courts, applications to exercise powers

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶37-220

Interference by court

Commentary – Rossdale: Probate and Administration of Estates ¶37-221

Custody and possession of the body

Commentary – Rossdale: Probate and Administration of Estates ¶2-020

Dealings with property traders

Generally

Commentary – Stamp Taxes Reporter ¶70-500

Debts

– see Debts and liabilities

Definition

Commentary – ; Rossdale: Probate and Administration of Estates ¶4-020 ; Finney on Personal Representatives 4.1

Disposal of assets by

Commentary – Tax Reporter ¶367-550

Disposal of body

Commentary – Finney on Personal Representatives 2.1.3

Distinction between trustees and

Commentary – Tax Reporter ¶365-275

Case Law – Cochrane's Executors v. Commissioners of Inland Revenue ; Prest (H.M. Inspector of Taxes) v. Bettinson (as trustee of Gladys Dodd deceased Residuary Trust)

Documents, obligation to disclose

Accounting documents

Commentary – Rossdale: Probate and Administration of Estates ¶39-030

Core documents

Commentary – Rossdale: Probate and Administration of Estates ¶39-030

Court's supervisory function

Commentary – Rossdale: Probate and Administration of Estates ¶39-020

Legal professional privilege

Commentary – Rossdale: Probate and Administration of Estates ¶39-040

Proprietary right

Commentary – Rossdale: Probate and Administration of Estates ¶39-010

Domicile of

Commentary – Finney on Personal Representatives 4.1

Duty of care

Commentary – Rossdale: Probate and Administration of Estates ¶37-020

Estates that are not complex

Commentary – Finney on Personal Representatives 2.4.3

Executors acting as

Commentary – Tax Reporter ¶365-225 ; Tax Reporter ¶365-375

Exempt transactions

Commentary – Stamp Taxes Reporter ¶30-500 ; Stamp Taxes Reporter ¶90-005

Expenses

Entitlement to reimbursement out of trust funds

Commentary – Rossdale: Probate and Administration of Estates ¶40-010

Generally

Commentary – Tax Reporter ¶367-575

Incidence of expenses in the estate

Commentary – Rossdale: Probate and Administration of Estates ¶42-020

Interest on

Commentary – Rossdale: Probate and Administration of Estates ¶40-030

Properly incurred expenses allowed

Commentary – Rossdale: Probate and Administration of Estates ¶40-010

Expenses incurred by

Legislation/Regulatory – SP 2/04 ; TCGA92 s. 38, 64

Fair dealing role

Commentary – Rossdale: Probate and Administration of Estates ¶34-020

Gains from policies and contracts

Legislation/Regulatory – ITTOIA2005 s. 466

Gains on life policies, life annuity contracts

Commentary – Tax Reporter ¶344-400

HMRC Guidance – IPTM3220 ; RDRM33540

Gathering of deceased's assets

– see Assets of the deceased

Generally

Commentary – Tax Reporter ¶365-225 ; CGT and the Private Residence ¶80-200 ; CGT and the Private Residence ¶80-300 ; Ford on Tax Losses 1.1–Ford on Tax Losses 6.1

Grant of representation

– see Grant of representation

Income tax

Aggregate income of estate

Commentary – Tax Reporter ¶365-900

Deductions and reliefs

Commentary – Tax Reporter ¶365-400

Distributions to beneficiaries

Commentary – Tax Reporter ¶365-600

Generally

Commentary – Tax Reporter ¶365-400

Legislation/Regulatory – TMA70 s. 74

Informal arrangements

Commentary – Tax Reporter ¶365-575

HMRC Guidance – TSEM7410

Interest

Commentary – Tax Reporter ¶365-750

Liabilities

Commentary – Tax Reporter ¶365-550 ; Tax Reporter ¶365-650 ; Tax Reporter ¶365-725

HMRC Guidance – TSEM7418

Case Law – ATTORNEY-GENERAL v. MIDLAND BANK EXECUTOR AND TRUSTEE COMPANY, LIMITED, AS MARSH'S EXECUTOR

Notification of person's death

Commentary – Tax Reporter ¶365-650

HMRC Guidance – TSEM7418

Residence

Commentary – Tax Reporter ¶365-825

Returns

Commentary – Tax Reporter ¶365-575

HMRC Guidance – TSEM7410

Year of death

Commentary – Tax Reporter ¶365-675

Case Law – Moore (H.M. Inspector of Taxes) v. R.J. Mackenzie & Sons Ltd. Commissioners of Inland Revenue v. R.J. Mackenzie & Sons Ltd.

Indemnities re tax paid

Commentary – Finney on Personal Representatives 8.5

Inheritance tax

Delivery of accounts

Commentary – Tax Reporter ¶180-825 ; Tax Reporter ¶180-885 ; Quick Overview ¶1885

Case Law – Inland Revenue Commissioners v. Stype Trustees (Jersey) Limited and Others. [1985] BTC 8,043 ; Robertson v IR Commrs

Excepted estates

Commentary – Tax Reporter ¶180-855

HMRC Guidance – IHTM06014

Exceptions and limited liability

Commentary – Quick Overview ¶1930

Forms

Commentary – Tax Reporter ¶180-835

Generally

Commentary – Finney on Personal Representatives 8.1

Grant of probate

Commentary – Tax Reporter ¶180-875

HMRC Guidance – IHTM05101 ; IHTM10471

Information requirements

Commentary – Tax Reporter ¶180-865

Letters of administration or confirmation

Commentary – Tax Reporter ¶180-875

HMRC Guidance – IHTM05101 ; IHTM10471

Liability

Case Law – Inland Revenue Commissioners v. Stannard. [1984] BTC 8,041

Limitation of liability

Commentary – Tax Reporter ¶183-125

Loans to pay

Commentary – Tax Reporter ¶366-200

Payment of tax

– see Payment of inheritance tax

Reimbursement

Commentary – Tax Reporter ¶183-135 ; Tax Reporter ¶629-700

Tax burden, allocation

– see Incidence of tax

Time for payment

Commentary – Quick Overview ¶1955

Insolvent estates

– see Insolvent estates

Liability for tax

Extent

Legislation/Regulatory – IHTA84 s. 204(1), (8), (9)

Generally

Legislation/Regulatory – IHTA84 s. 200 ; Misc. 107

HMRC Guidance – IHTM30011 ; IHTM30026 ; IHTM30035 ; IHTM30083 ; IHTM30091

Intermeddling

Legislation/Regulatory – IHTA84 s. 199(4)

Liability for tax of deceased

Capital gains tax

Commentary – Quick Overview ¶62755

Generally

Commentary – Quick Overview ¶62700

Inheritance tax

Commentary – Quick Overview ¶1930

Liability of

Commentary – Finney on Personal Representatives 2.1.4 ; Finney on Personal Representatives 8.1

Lloyd's underwriters, carrying on business

Legislation/Regulatory – FA93 s. 179A(3)

Loss on sale relief

Legislation/Regulatory – Misc. 113

Losses of

Commentary – Ford on Tax Losses 5.3.7

Lump sums paid to for copyright etc.

Legislation/Regulatory – ITTOIA2005 s. 253

Maladministration, liability for

Accounts

Commentary – Rossdale: Probate and Administration of Estates ¶38-060

Assessment of loss

Commentary – Rossdale: Probate and Administration of Estates ¶41-030

Contribution between representatives

Commentary – Rossdale: Probate and Administration of Estates ¶41-090

Court's powers

Commentary – Rossdale: Probate and Administration of Estates ¶41-100

Defences

Commentary – Rossdale: Probate and Administration of Estates ¶41-060

Devastavit, meaning

Commentary – Rossdale: Probate and Administration of Estates ¶41-010

Examples and types of devastavit

Commentary – Rossdale: Probate and Administration of Estates ¶41-020

Indemnity from will

Commentary – Rossdale: Probate and Administration of Estates ¶41-080

Profits, accounting for

Commentary – Rossdale: Probate and Administration of Estates ¶41-040

Wilful default

Commentary – Rossdale: Probate and Administration of Estates ¶41-050

Meaning

Commentary – Tax Reporter ¶365-375

Legislation/Regulatory – IHTA84 s. 272 ; ITEPA2003 s. 721, 878

MIRAS

Legislation/Regulatory – SI 1982/1236 reg. 7A

Nature of the interests in the deceased's estate

Commentary – Rossdale: Probate and Administration of Estates ¶4-090

Non-resident capital gains tax

Commentary – Endacott on Furnished Holiday Lettings 11.7

Non-residents, deposit-takers deduction of tax at source

Legislation/Regulatory – ITA2007 s. 860

Notification of acquisition

Legislation/Regulatory – VATA94 Sch. 11, para. 2(4), (5)

Occupation by beneficiary of estate

Commentary – CGT and the Private Residence ¶80-305

Occupation of deceased's property

Commentary – Rossdale: Probate and Administration of Estates ¶48-060

Overview of available loss reliefs

Commentary – Ford on Tax Losses 1.2.9

Partnerships

– see Partnerships

Payment of tax

Legislation/Regulatory – IHTA84 s. 226(1)

Pension schemes

Insurance company, information to be provided by

Commentary – Tax Reporter ¶389-800

Returns

Commentary – Tax Reporter ¶389-350

Scheme administrators, information to be provided by

Commentary – Tax Reporter ¶389-700

Position of

Commentary – Tax Reporter ¶365-225

Powers of accumulation

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶36-010

Gifts to minors

Commentary – Rossdale: Probate and Administration of Estates ¶36-020

Inheritance tax

Commentary – Rossdale: Probate and Administration of Estates ¶36-030

Powers of appropriation

Effect of exercise

Commentary – Rossdale: Probate and Administration of Estates ¶49-040

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶49-030

Self-appropriation

Commentary – Rossdale: Probate and Administration of Estates ¶49-050

Powers of delegation

Agents, identity and agency terms

Commentary – Rossdale: Probate and Administration of Estates ¶37-070 Rossdale: Probate and Administration of Estates ¶37-080 Rossdale: Probate and Administration of Estates ¶37-110

Nominees and custodians

Commentary – Rossdale: Probate and Administration of Estates ¶37-090 Rossdale: Probate and Administration of Estates ¶37-100 Rossdale: Probate and Administration of Estates ¶37-110

Powers of investment

Advice, duty to take

Commentary – Rossdale: Probate and Administration of Estates ¶37-050

Common law principles

Commentary – Rossdale: Probate and Administration of Estates ¶37-060

General power

Commentary – Rossdale: Probate and Administration of Estates ¶37-040

Standard investment criteria, duty to have regard to

Commentary – Rossdale: Probate and Administration of Estates ¶37-050

Wide statutory powers

Commentary – Rossdale: Probate and Administration of Estates ¶37-030

Powers of land management

Acquisition of freehold and leasehold land

Commentary – Rossdale: Probate and Administration of Estates ¶37-130

Beneficiaries, delegation of powers to

Commentary – Rossdale: Probate and Administration of Estates ¶37-140

Consultation with beneficiaries

Commentary – Rossdale: Probate and Administration of Estates ¶37-150

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶37-120

Powers of management and administration

Commentary – Rossdale: Probate and Administration of Estates ¶37-010

Powers of sale

Chattels

Commentary – Rossdale: Probate and Administration of Estates ¶35-020

General considerations

Commentary – Rossdale: Probate and Administration of Estates ¶5-010

One of several personal representatives

Commentary – Rossdale: Probate and Administration of Estates ¶35-080

Purchaser, position of

Commentary – Rossdale: Probate and Administration of Estates ¶35-060

Retention of land

Commentary – Rossdale: Probate and Administration of Estates ¶35-040

Sale of land

Commentary – Rossdale: Probate and Administration of Estates ¶35-050

Shares, sales of

Commentary – Rossdale: Probate and Administration of Estates ¶35-030

Sole personal representative

Commentary – Rossdale: Probate and Administration of Estates ¶35-070

Powers to assent property

Effect of

Commentary – Rossdale: Probate and Administration of Estates ¶49-070

Form of

Commentary – Rossdale: Probate and Administration of Estates ¶49-080

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶49-060

Retraction of

Commentary – Rossdale: Probate and Administration of Estates ¶49-100

Powers to insure property

Commentary – Rossdale: Probate and Administration of Estates ¶37-170

Powers to make agreements or compromises on external questions

Counsel's opinion

Commentary – Rossdale: Probate and Administration of Estates ¶35-150

Duty in exercising

Commentary – Rossdale: Probate and Administration of Estates ¶35-130

Extension of power by will

Commentary – Rossdale: Probate and Administration of Estates ¶35-120

Legal advice, obtaining

Commentary – Rossdale: Probate and Administration of Estates ¶35-100

Power to bind others

Commentary – Rossdale: Probate and Administration of Estates ¶35-110

Restrictions

Commentary – Rossdale: Probate and Administration of Estates ¶35-140

Wide statutory power to compromise

Commentary – Rossdale: Probate and Administration of Estates ¶35-090

Powers to raise tax

Legislation/Regulatory – IHTA84 s. 212

Private residence relief

Commentary – Tax Reporter ¶546-900

Profit sharing schemes

Legislation/Regulatory – ICTA88 Sch. 10, para. 1(2)

Property businesses

Legislation/Regulatory – ITTOIA2005 s. 361

Qualifying corporate bonds

Commentary – Tax Reporter ¶559-500 ; Tax Reporter ¶559-600

Case Law – W.T. Ramsay Ltd v. Commissioners of Inland Revenue Eilbeck (H.M. Inspector of Taxes) v. Rawling

Refusal of grant of representation where tax unpaid

Legislation/Regulatory – SCA81 s. 109

Removal and replacement of

Application to alter representation

Commentary – Rossdale: Probate and Administration of Estates ¶55-030

Appointment of judicial trustee

Commentary – Rossdale: Probate and Administration of Estates ¶55-040

Costs

Commentary – Rossdale: Probate and Administration of Estates ¶55-070

Each form of relief open to court

Commentary – Rossdale: Probate and Administration of Estates ¶55-050

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶55-010

Judicial remedies

Commentary – Rossdale: Probate and Administration of Estates ¶55-010

Misconduct

Commentary – Rossdale: Probate and Administration of Estates ¶55-060

Principles on which court acts

Commentary – Rossdale: Probate and Administration of Estates ¶55-060

Substitution

Commentary – Rossdale: Probate and Administration of Estates ¶55-020

Remuneration

– see Remuneration

Repayment supplement

Legislation/Regulatory – ICTA88 s. 824(9)

Representative, meaning

Legislation/Regulatory – CEMA79 s. 1(1)

Residence

Commentary – Tax Reporter ¶199-515 ; Tax Reporter ¶365-825 ; Tax Reporter ¶367-500

Legislation/Regulatory – ITA2007 s. 834, Sch. 2, para. 136, 137

HMRC Guidance – INTM340080 ; INTM610050 ; TSEM7358

Residence of

Commentary – Finney on Personal Representatives 4.1 ; Finney on Personal Representatives 7.5.1

Responsibilities and duties

Commentary – ; Finney on Personal Representatives 2.1.3 ; Finney on Personal Representatives 3.6.1

Returns

Commentary – Quick Overview ¶1345 ; Tax Reporter ¶180-675 ; Tax Reporter ¶365-575

HMRC Guidance – TSEM7410

Returns, failure to make

Legislation/Regulatory – VATA94 s. 73(5)

Revenue and Customs contact centres

Legislation/Regulatory – SP 1/10

Self-dealing, rule against

Business partners, agreement with

Commentary – Rossdale: Probate and Administration of Estates ¶34-050

Co-administrator, agreement with

Commentary – Rossdale: Probate and Administration of Estates ¶34-050

Co-executor, agreement with

Commentary – Rossdale: Probate and Administration of Estates ¶34-050

Company, interest in

Commentary – Rossdale: Probate and Administration of Estates ¶34-050

Exclusion of the rule

Commentary – Rossdale: Probate and Administration of Estates ¶34-030 Rossdale: Probate and Administration of Estates ¶34-040 Rossdale: Probate and Administration of Estates ¶34-045

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶34-010

Purchase of beneficial interest (fair dealing rule)

Commentary – Rossdale: Probate and Administration of Estates ¶34-020

Spouse of personal representative, agreement with

Commentary – Rossdale: Probate and Administration of Estates ¶34-050

Single and continuing body

Commentary – Finney on Personal Representatives 4.4.1

Sole trader

– see Sole traders

Stamp duty land tax

Acquisition of dwelling by property traders

Legislation/Regulatory – FA2003 Sch. 6A, para. 3

Assets and appropriations by

Legislation/Regulatory – FA2003 Sch. 3, para. 3A

Generally

Commentary – Quick Overview ¶63110 ; Quick Overview ¶63460

Legislation/Regulatory – FA2003 s. 106

Sums paid to trustees, rate of tax

Legislation/Regulatory – ITA2007 s. 483

Tax considerations

Capital gains tax liability

Commentary – Rossdale: Probate and Administration of Estates ¶16-140 Rossdale: Probate and Administration of Estates ¶16-150

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶37-210

Income tax liability

Commentary – Rossdale: Probate and Administration of Estates ¶16-160

Inheritance tax

– see Inheritance tax

Trade/business carried on by

Generally

Commentary – Tax Reporter ¶203-000 ; Tax Reporter ¶366-175

Case Law – (1) Wood (H.M. Inspector of Taxes) v. Public Trustee as Executor of Sir Alec Black, deceased (2) Commissioners of Inland Revenue v. Public Trustee as Executor of Sir Alec Black, deceased. ; COHAN'S EXECUTORS v. THE COMMISSIONERS OF INLAND REVENUE. ; Commissioners of Inland Revenue v. Donaldson's Trustees ; MARSHALL'S EXECUTORS, HOOD'S EXECUTORS AND ROGERS v. JOLY (H.M. INSPECTOR OF TAXES) ; NEWBARNS SYNDICATE v. HAY (H.M. INSPECTOR OF TAXES) ; Pattullo's Trustees v. Commissioners of Inland Revenue ; THE EXECUTRICES OF PHILIP WEISBERG, DECEASED v. THE COMMISSIONERS OF INLAND REVENUE ; TRUSTEES OF EARL HAIG v. COMMISSIONERS OF INLAND REVENUE

Limited companies

Commentary – Tax Reporter ¶366-175

Partnerships

Commentary – Tax Reporter ¶366-175

Sole trader

Commentary – Tax Reporter ¶366-175

Transfer of securities

Legislation/Regulatory – ITA2007 s. 636, 640

Trustees, distinction between

Commentary – Tax Reporter ¶365-275

Case Law – Cochrane's Executors v. Commissioners of Inland Revenue ; Prest (H.M. Inspector of Taxes) v. Bettinson (as trustee of Gladys Dodd deceased Residuary Trust)

Validity of will

– see Wills

Valuation unknown amounts

Commentary – Rossdale: Probate and Administration of Estates ¶37-200

Vesting in

Commentary – Tax Reporter ¶365-200

Winding up estate

Commentary – Tax Reporter ¶365-425