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ESTATE DISPUTES: Some important judgments from last month

The Privy Council has handed down judgment in Investec Trust (Guernsey) v Glenalla Properties (2018 UKPC 7), in which the former trustees of the Tchenguiz Discretionary Trust had made loans of over GBP200 million to various BVI companies.

INTERNATIONAL - SPAIN: Foreign nationals can sue government over inheritance tax discrimination, following Supreme Court ruling

INTERNATIONAL - UK - Nearly 100,000 properties in England and Wales owned by foreign entities

INTERNATIONAL - ISRAEL: Tax authority launches new voluntary disclosure programme

INTERNATIONAL - UK: Alarm over extension of property taxes to non-residents

INTERNATIONAL - Cayman Islands: Beneficial ownership regime ready for launch

INTERNATIONAL - European Union: Taxation at source must take into account non-resident taxpayer's domestic costs

These must be residential properties and related accessories (garages, cellars, etc). As the taxation department itself confirmed (Telefisco 2006), the benefits extend to accessories without limit as to number and even if purchased separately from the principal asset, so long as their intended use as accessories is specified in the purchase contract. The system also applies to purchases of housing and accessories that are ineligible for the benefits foreseen for “primary residences”. So a