Does Phizackerley decision stand up?

First off there was the decision in the Phizackerley test case on nil-rate band will trusts – which judging by the number of reads on the site has caught the imagination of the IFA sector. Since the Special Commissioners decided in favour of HM Revenue & Customs, many experts have been queuing up to predict what this means for the future of nil-rate bands and the process of 'debt and charge' schemes. It is pretty clear in this case the reason the Phizackerley’s were caught out was firstly because Mrs Phizackerley died first and secondly because Mrs Phizackerley did not work during her m...