Commentary

I5.1025 Trustees' capital gains tax—summary of disposals

IHT, trusts and estates

I5.1025 Trustees' capital gains tax—summary of disposals

I5.1025 Trustees' capital gains tax—summary of disposals

The possible transfers in and out of a settlement may be summarised as follows:

  1.  

    (a)     A sale or gift into settlement can give rise to a chargeable gain or allowable loss1 for the settlor; holdover relief is usually available

  2.  

    (b)     The sale by the trustees of an asset which is settled property gives rise to a chargeable gain or allowable loss under general principles2

  3.  

    (c)     A transfer of an asset which is settled property to a beneficiary with an absolute interest (except on the death of a life tenant (see I5.1021)) is deemed

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial