The Law Reports (Chancery Division)
[1970] Ch 712
[CHANCERY DIVISION]
SAINSBURY AND OTHERS
[1968 S. No. 6258]
v.
INLAND REVENUE COMMISSIONERS
1969 June 11,
12,
13,
17,
18;
July 11
July 11
Ungoed-Thomas J.
Revenue
— Estate duty
— “Interest in possession”
— Discretionary trust of all surplus income
— Whether objects had “interest” and “interest in possession” to cease on death of beneficiary
—
Finance Act, 1940 (3 & 4 Geo. 6, c. 29), s. 43 (as amended).
Trust
— Discretionary Construction
— All surplus income to be distributed
— Whether objects had “interest” and interest in possession terminable on death of beneficiary.
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