The Edinburgh Tax Network, in conjunction with CIOT and Terra Firma Chambers, will present a seminar entitled ‘Gross Division & Net Proportionality in Estates – re Ratcliffe & re Benham revisited’ at the Mackenzie Building, Old Assembly Close, Edinburgh on Thursday 26th September 2024.

Practitioners know that it is vital that they should be able to accurately predict for their client the proportions in which e.g. charitable and non-charitable legatees should benefit under any will. But does an estate given after debts and funeral expenses as to 20/40ths amongst 20 individual legatees and as to 20/40ths amongst 20 charities produce the result that each legatee takes equal shares of net estate? Without more, authority says not: the IHT is borne by the non-exempt individuals. Is that what’s wanted? 35 years on from the leading case, this is a source of constant negligence problems. Just because a topic is nerdy it doesn’t follow that it's not important.

At this seminar, Derek Francis, LL.B., CTA (Fellow), Advocate, Barrister will cover:-

 -  The legislative obstacles to achieving net shares of equal value in the hands of exempt and non-exempt legatees taking rateably;
 -  Addressing the problem – Blackburne J’s rule in re Ratcliffe; c.f. re Benham exception and any reasons for it;
 -  Some precedent styles necessary to achieve – or exclude – equal net proportionality.

Registration will commence at 12.45pm with the seminar starting at 1pm. The seminar has been accredited by the Faculty of Advocates as contributing 1 hour of CPD for its own members and is eligible for a similar award from the Law Society for the solicitor branch of the profession. 

There is no charge for attendance, however booking is necessary - to reserve a space at this event please email seminars@terrafirmachambers.com.  Spaces will be allocated on a first come, first served basis.