841. Trustees' liability for CGT.

In general, CGT is charged to the trustees, who are treated as a single and continuing body of persons1. This is so even if the property is held by different sets of trustees2. The trustees are chargeable on their chargeable gains, less allowable losses for the year of assessment, in much the same way as individuals3. Gains or losses will accrue to the trustees on the disposal of assets in the course of administration, as where the trustees sell some of the trust investments to buy new ones. Trustees are liable to the usual top rate of CGT