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UK Private Client update: trusts litigation, FHL abolition, EIS/VCT extension, HMRC manuals, POCA ruling, digital assets as property, OFSI sanctions FAQs, IHT s142 deed of variation Q&A

Published on: 29 August 2024

Published by a LexisNexis Private Client expert
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In this issue:

  • Trusts
  • UK taxes for Private Client
  • HMRC Manuals tracker
  • Tax avoidance, evasion and non-compliance
  • Digital assets and cryptoassets
  • International
  • Question of the week
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Trusts

Court dismisses claim for declaration of beneficial interests in shares (Fulstow v Francis)

In Fulstow v Francis [2024] EWHC 2122 (Ch), the Chancery Division rejected the claimants’ action concerning shares in Capital Land, a company that owns development land. The claimants asked for declarations confirming their beneficial interests in Capital Land shares held by the defendant, together with an order compelling him to sign a stock transfer form to pass to them the shares they asserted were beneficially theirs. The High Court found there was no binding agreement for the transfer of 25% and 7% of Capital Land’s shares in return for investments of £35,000 and £25,000, respectively...

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