Commentary

I12.1114 Absolute interests as against trust interests—capital gains tax aspects

IHT, trusts and estates

I12.1114 Absolute interests as against trust interests—capital gains tax aspects

I12.1114 Absolute interests as against trust interests—capital gains tax aspects

The capital gains tax rules, like the IHT rules, are mostly neutral between making an absolute gift to a person and making a settlement under which that person has an IPDI (for IPDIs see I5.205). In particular, the capital gains tax exemption for private residences under TCGA 1992, ss 222–225 can apply where a beneficiary has an interest in possession in a property comprised in a settlement which is his principal private residence, and in most cases there is capital gains tax acquisition-value uprating on the death of a beneficiary

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