JPHLAW NEWS : TRUSTS: Relief for farming family whose mistake triggered CGT charge
A father-and-son farming partnership that transferred several pieces of land into a discretionary trust, without realising that the transfers would lead to a substantial capital gains tax charge when the land was later sold, have succeeded in getting the transfer reversed. The England & Wales High Court decided that the transfers could be rescinded for mistake using equitable tracing (Bainbridge v Bainbridge, 2016 EWHC 898 Ch).
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