Scrip dividend constituted capital for relevant property regime (First-tier Tribunal) | Practical Law
The First-tier Tribunal applied Gilchrist v HMRC [2014] UKUT 169 (TCC) in holding that, for inheritance tax purposes, a scrip dividend constituted capital (and not income) in the hands of the trustees of a discretionary trust and should therefore be taken into account when calculating the relevant property regime exit charge on a subsequent trust distribution (Meena Seddon Settlement v HMRC [2015] UKFTT 140 (TC)).