Buzzoni & ors v H.M. Commissioners for Revenue and Customs

[2011] UKFT 267

21st April 2011

First Tier Tribunal (Tax)


Inheritance Tax: In a gratuitous grant of a future underlease, the donor ensured, as required by the freeholder, that the usual tenant’s covenants were expressly set out in the underlease and that the donor and the donees had joint and several liability in that respect. The tribunal found that, as a consequence, the donor was not excluded or virtually excluded from benefit and that Finance Act 1986, s.102 (1) (b) was applicable so that the underlease had to be treated as part of the donor’s estate on her death. An appeal has been heard by Proudman J, sitting as a judge of the Upper Tier (Tax and Chancery).

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