In re Hynd Settlement v [2001] JRC 81 (03 April 2001)

In re Hynd Settlement v [2001] JRC 81 (03 April 2001)

The Court is satisfied that the proposed variation is for the benefit of the beneficiaries, providing trustees with flexibility to plan for taxation, and that avoidance, minimisation, or deferral of taxation is a legitimate benefit under Jersey law.

Citation
[2001] JRC 81
Parties
Applicant: Peter Hynd 'H' Settlement Trustees; Respondent: Settlor and beneficiaries
Jurisdiction
Jersey
Judgment Date
03 April 2001
Procedural Posture
Variation of Trust / Application Under Article 43 of Trusts (jersey) Law, 1984
Outcome
application granted
Legal Topics
Variation of Trust, Tax Avoidance, Benefit of Beneficiaries
Trust Law Tax Law Variation of Trust Tax Avoidance Benefit of Beneficiaries

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Parties

Peter Hynd 'H' Settlement Trustees

Applicant

Settlor and beneficiaries

Respondent

Procedural Posture

Variation of Trust / Application Under Article 43 of Trusts (jersey) Law, 1984

Legal Issues

  1. 1 Is it appropriate for the Jersey Court to approve a variation of trust terms that may enable trustees to avoid UK taxation?
  2. 2 Does the variation serve the benefit of the beneficiaries under Article 43 of Trusts (Jersey) Law, 1984?

Ratio Decidendi

The Court is satisfied that the proposed variation is for the benefit of the beneficiaries, providing trustees with flexibility to plan for taxation, and that avoidance, minimisation, or deferral of taxation is a legitimate benefit under Jersey law.

Court Disposition

application granted

Orders

  • variation of the Peter Hynd 'H' Settlement approved as per draft submitted
  • costs on the standard basis