The following Trusts and Inheritance Tax guidance note by Tolley in association with Paul Davies at DWF provides comprehensive and up to date tax information covering:
Trustees are sometimes treated as having made a disposal of the trust property even if they have not sold or transferred the property. You will need to consider the capital gains taxation of the trustees where they make such deemed disposals.
Trustees are deemed to make disposals of the trust property where:
The following discussion of the main deemed disposal scenarios is summarised in the Flowchart - capital gains tax treatment of trustees’ deemed disposals.
A beneficiary becomes absolutely entitled to trust property where he is able to dictate how the trustees are to deal with the property (eg by demanding that the trustees pass ownership of it to him). This will be the case in one of the following:
In any of these cases, the trustees are treated as:
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