Discounted gift confusion after High Court ruling

In February the special commissioner, which reviews disputes between the taxman and taxpayers, found HM Revenue & Customs (HMRC) unnecessarily cut the value of a gift made by 90-year-old Marjorie Bower to an Axa DGT plan five months before her death. However, on 5 November, the decision was overturned by the High Court following an appeal by HMRC. It argued the deceased should receive little or no discount as someone of that age would be uninsurable despite the executors of the trust saying the discount should apply. AXA says it is in discussions with the executors about a counter-appea...