Inheritance tax has been abolished in Hong Kong since 2005. However, two recent decisions illustrate that tax liability may arise in the form of stamp duty, in certain circumstances, from the assent of the deceased’s real property to the deceased’s children. Read more
In Group Seven Limited & Ors v Notable Services LLP & Ors [2019] EWCA Civ 614, the English Court of Appeal held inter alia (overturning a first instance decision) that an accountant member of a multi-disciplinary firm of solicitors was liable as an accessory for dishonestly assisting breaches of trust. The appeal comprised multiple conjoined … Read more
In Guest v Guest & Ors [2019] NZCA 64, the New Zealand Court of Appeal (overturning a first instance decision) held that the appellant’s costs should be met by (among others) an individual who was shareholder and director of a private trust company, despite him not personally being party to the proceedings. We discuss the … Read more
Earlier this year, the Charity Commission (the “Commission“) published the results of its inquiry into The Cup Trust, a charity which participated in a large-scale tax avoidance scheme that earned its founder £2 million in fees. The decision is a reminder of the standards expected of charity trustees and demonstrates the Commission’s wide range of … Read more
In a recent decision, the English Court of Appeal has found that there was no breach of fiduciary duty where the amount of commission received by a fiduciary was not disclosed to the client. The Court established the following general principles in this case: A principal’s knowledge (even if there is no knowledge of the … Read more
Welcome to the new look Herbert Smith Freehills Private Wealth and Trust Disputes Blog. Our blog has recently been updated with a new design. As well as a new look, the subscription process of our blog has recently been updated. Our blog now offers the opportunity to choose what jurisdictions/categories you want to receive alerts … Read more
The English High Court has recently issued two apparently inconsistent judgments in relation to out of time claims brought under the Inheritance (Provisions for Family and Dependants) Act 1975 (the “1975 Act“). We consider these further below. Read more
The Grand Court of the Cayman Islands and the High Court in England and Wales have recently considered two unusual applications for Beddoe relief: an application by a trustee for retrospective Beddoe relief after the conclusion of proceedings; and an application by a trustee for Beddoe relief in respect of bringing an appeal in the … Read more
