Not many people know, but in the UK it is within the government’s remit to protect and promote the country’s cultural and artistic heritage. As a result, there are heritage tax reliefs available on death.
This week HHJ Kramer handed down his judgment in the case concerning Mr and Mrs Scarle. The court was asked to consider the question as to which of them had died first in October 2016, after they were both found dead at their bungalow in Essex.
A recent ruling by the Court of Protection means that someone acting as a deputy for a person lacking capacity will in future be able to make gifts on their behalf for tax purposes, even if the person had not engaged in tax planning before losing capacity.
Many newspapers carried the story last month of a mother who claimed that the money advanced to her son to assist with a house purchase was a loan and not a gift. She claimed that money should therefore be repaid to her on son's death rather than pass to his widow. However, her claim failed and there was no evidence that it was a loan.