Advisers urged to review legacy files after Court of Appeal IHT ruling

The Court of Appeal's decision earlier this month (13 July), which upheld the effectiveness of a historic home loan/double trust arrangement for IHT purposes, has been described as a significant victory for taxpayers following years of HMRC challenges to similar structures. Following the ruling in HMRC v Elborne, a HMRC spokesperson told PA: "We note the decision and are considering our next steps." Private client lawyers told PA that the judgment is likely to strengthen the position of taxpayers and executors involved in disputes over legacy arrangements established during the late 1...