H.M. Advocate v. Gunning's Trustees [1902] ScotLR 39_534 (28 January 1902)

H.M. Advocate v. Gunning's Trustees [1902] ScotLR 39_534 (28 January 1902)

The debts in the bonds were not incurred for full consideration in money or money's worth, nor wholly for the deceased's own use and benefit. The capital sums in the bonds were not trust property within the meaning of the Finance Act 1894. Therefore, the sums in the bonds must be included in the estate for estate duty purposes.

Citation
[1902] ScotLR 39_534
Parties
Pursuer: H. M. Advocate; Defenders: Gunning's Trustees (Dame Mary Agnes Winwood Hughes or Gunning and others)
Jurisdiction
Scotland
Judgment Date
28 January 1902
Procedural Posture
Exchequer Cause / Outer House Judgment
Outcome
Decree for pursuer
Legal Topics
Property Passing on Death, Allowance for Debts, Trusts, Finance Act 1894
Revenue Estate Duty Property Passing on Death Allowance for Debts Trusts Finance Act 1894

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Parties

H. M. Advocate

Pursuer

Gunning's Trustees (Dame Mary Agnes Winwood Hughes or Gunning and others)

Defenders

Procedural Posture

Exchequer Cause / Outer House Judgment

Legal Issues

  1. 1 Whether debts in bonds granted by deceased for public purposes are deductible for estate duty under Finance Act 1894
  2. 2 Whether capital sums in bonds are property held in trust and exempt from estate duty

Ratio Decidendi

The debts in the bonds were not incurred for full consideration in money or money's worth, nor wholly for the deceased's own use and benefit. The capital sums in the bonds were not trust property within the meaning of the Finance Act 1894. Therefore, the sums in the bonds must be included in the estate for estate duty purposes.

Court Disposition

Decree for pursuer

Orders

  • Defenders to pay pursuer £2013 as additional estate duty with interest at 3% from date of death
  • Defenders to pay expenses