No question really just a comment re the pitfalls of chargeable events on life policies as suffered in TC02539: Joost Lobler
To quote the judge:
In this appeal a remarkably unfair result arises as a result of a combination of prescriptive legislation and Mr. Lobler’s ill-advised actions.
The appeal takes place at a time when there is great media and political comment about a fair tax system. That interest focuses on the avoidance of tax by those who have substantial income, but to our minds it is more repugnant to common fairness to extract tax in Mr Lobler’s circumstances than to permit other taxpayers to avoid tax on undoubted income.
Tax due 560k. Actual gain on the policy overall apparently only 65k. What the court can do about, despite their best efforts, nothing