Case Law

In AG v Boden 1912 1 KB 539 goodwill of a partnership, which passed to a son on the death of his father, was regarded as having been taken for full consideration in money or money’s worth.

AG v Kitchin 1941 AER 735 considered whether or not there had been full consideration in money or money’s worth.

The term “interest in possession” is not defined in CATCA 2003; however, this phrase was the subject of much judicial comment in the UK case of Pearsons v IRC 1981 AC 253

The Tax Appeals Commissioner determined that the subsequent cancellation and re-registration of the property, subject of the appeal, altered the respective shares in which the parties held the property, but it did not invalidate the CAT consequences which arose on foot of the contract and conveyance executed in this case. The taxpayer's appeal against Revenue's assessment to gift tax was dismissed. 13TACD2017

The appeal considered the tax treatment of funds settled in a bare trust by way of oral declaration later evidenced in writing by Declarations of Trusts. 15TACD2021