Feedback - Readers respond to recent items published in Taxation

09 January 2002

Issue: 3839 / Categories: Forum & Feedback

Rewriting the past

The reader's query entitled 'Post death planning', published with replies in Taxation, 8 November 2001 at pages 154 to 155 concerned the possibility of completing a deed of variation of a will in relation to an estate which had been fully administered and distributed, with certain funds having already been passed down by the widow to her children as a gift now to be confirmed by the deed of variation. Peter Smith of Hill Martin Ltd has commented as follows on this query.

Rewriting the past

The reader's query entitled 'Post death planning' published with replies in Taxation 8 November 2001 at pages 154 to 155 concerned the possibility of completing a deed of variation of a will in relation to an estate which had been fully administered and distributed with certain funds having already been passed down by the widow to her children as a gift now to be confirmed by the deed of variation. Peter Smith of Hill Martin Ltd has commented as follows on this query.

None of the replies refers to the fact that '£200 000 has been given to the children'. This must have been a gift by the widow and prior to the planning which is now proposed must have been intended to function as a potentially exempt transfer.

I do not know of anything in the tax legislation which can make this...

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