Rescission of trust entered into after following incorrect tax advice
In Suckling v Furness and others [2020] EWHC 987 (Ch) 24 April 2020 the High Court granted rescission of a settlement which had been entered into following incorrect tax advice and which otherwise would have had a significant detrimental impact on the claimant’s tax position.
The claimant (S) a retired GP along with other former partners in a medical practice decided to retain the practice building and let it out. The claimant’s share in the property would pass to her adult children on her death (K and B).
Concerned that K and B would not be able to manage their share in the property S sought advice on setting up a trust from a lifelong friend of some 67 years (SGS) who had also been her solicitor for many years. SGS was a member...
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Rescission of trust entered into after following incorrect tax advice
In Suckling v Furness and others [2020] EWHC 987 (Ch) 24 April 2020 the High Court granted rescission of a settlement which had been entered into following incorrect tax advice and which otherwise would have had a significant detrimental impact on the claimant’s tax position.
The claimant (S) a retired GP along with other former partners in a medical practice decided to retain the practice building and let it out. The claimant’s share in the property would pass to her adult children on her death (K and B).
Concerned that K and B would not be able to manage their share in the property S sought advice on setting up a trust from a lifelong friend of some 67 years (SGS) who had also been her solicitor for many years. SGS was a member...
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