John Barnett CTA TEP, partner at Burges Salmon submitted the query below to HMRC and received the appended reply, which the department is happy to publicise
Land was bought subject to an easement that a water supply would be installed in the future. The land has since been sold, but the easement is to be enforced and the previous owner will pay
An unmarried couple purchased a house together with a joint mortgage. Shortly before his death, one of the owners repaid the outstanding balance of the mortgage and HMRC are treating half of this as a...
A will trust provided that the value of a half share in the marital home should be left to the widow rather than the property itself. The loan was to be interest-free, but the amount repayable would...