Case: Court of Appeal allows ‘excluded property’ ruling

The Court of Appeal allowed an appeal against a High Court ruling that money held in a non-UK bank was relevant property and so should incur a tax charge

In Barclays Wealth Trustees (Jersey) Ltd & Anor v Revenue and Customs [2017] EWCA Civ 1512 the Court of Appeal considered an appeal against the High Court decision in Barclays Wealth Trustees (Jersey) Ltd [2015] EWHC 2878.

In 2001, Michael Dreelan settled cash on a non-resident discretionary trust (the 2001 settlement) to which he later added further property (shares in a UK-resident company, Qserv), being non-UK domiciled on all occasions. The property was held through a Jersey resident company (Minsk) and was therefore excluded property.

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