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Jargon Buster

Ordinary residence

A habitual tax residence that forms the basis of taxation for some taxes in the UK, usually after 3 or more years of tax residence in the UK. An individual can also be ordinarily resident immediately upon arrival in the UK in certain circumstances.

Articles

AON Pension Trustees Ltd v MCP Pension Trustees Limited [2010] EWCA Civ 377

This case is important on two levels. From a practical perspective, it is a stark reminder to all trustees of the importance of keeping accurate and up-to-date records of their beneficiaries. Equally the case shows how vital it can be to take out insurance on the winding-up of a trust.

From a technical perspective, the case is important because it confirms, for the first time, that the protection afforded by section 27 of the Trustee Act 1925 can be extended to trustees of pension schemes. However, trustees cannot rely on the s27 protection when they have already had ‘notice’ of a claim. The judgment examines what constitutes notice for these purposes.

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