Case Summaries: 8 December 1997

The following notes of a judgment were prepared by the reporters of the All England Law Reports.

Inheritance tax

Frankland v IRC; CA (Peter Gibson, Thorpe, Chadwick LJJ) 7 Nov 1997.

Section 144 of the Inheritance Tax Act 1984 provided that property transferred out of a discretionary trust to a beneficiary within two years of the death of the testator should be regarded as taking effect under the will from the date of death, but the section did not apply if the transfer was made in the first quarter after the death.

Christopher McCall QC, Dirik Jackson (Wansbroughs Willey Hargrave) for the taxpayer; Michael Furness (Inland Revenue Solicitor) for the Commissioners.