The Law Reports (Chancery Division)
[1963] Ch 135
[COURT OF APPEAL]
COUTTS & CO. v. INLAND REVENUE COMMISSIONERS.
1962 Mar. 20,
21,
22,
23,
26;
April 17.
April 17.
Lord Evershed M.R., Upjohn and Diplock L.JJ.
Revenue
— Estate duty
— “Surviving spouse” exemption
— Derivative settlement
— Duty paid on death of first life tenant
— Subsequent settlement of limited interests in settled estates
— Passing of limited interests on death
— Whether deceased competent to dispose of “settled estates”
— Whether claim for duty “in respect of” settled estates
—
Finance Act, 1894 (57 & 58 Vict. c. 30), s. 5 (2)
—
Finance Act, 1914 (4 & 5 Geo. 5, c. 10), s. 14.