| Commentary

38 Capital gains tax

| Commentary

38 Capital gains tax

When an individual dies, his assets are treated for capital gains tax purposes as being acquired by his personal representatives or any other person on whom they devolve for a consideration equal to their market value at the date of death1. In addition, the individual is not treated as having disposed of those assets on death even if he has made a specific gift of them by will2. In other words, the death does not trigger any chargeable disposal and the person or persons entitled to those assets, usually the personal representatives,

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