Commentary

55 Capital gains tax and equitable interests

CHOSES IN ACTION vol 7
| Commentary

55 Capital gains tax and equitable interests

| Commentary

55 Capital gains tax and equitable interests

Equitable interests are assets within the meaning of the Taxation of Chargeable Gains Act 19921. However, there is generally no chargeable gain on the disposal of an interest created by or arising under a settlement (including, in particular, an annuity or life interest, or a reversion to an annuity or life interest) by the person for whose benefit it was created or any other person, apart from one who acquired the interest for a consideration in money or money’s worth2, or a person deriving title to the interest through

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