Commentary

I5.1251 Reliefs for non-domiciled beneficiaries from 2008/09

IHT, trusts and estates

I5.1251 Reliefs for non-domiciled beneficiaries from 2008/09

I5.1251 Reliefs for non-domiciled beneficiaries from 2008/09

Reliefs for non-domiciled beneficiaries—overview

Although non-domiciled beneficiaries are now within the charge to CGT if they receive capital payments from a non-resident1or migrant settlement2, there are a number of reliefs available:

  1.  

    •     exemption of pre-6 April 2008 capital payments and capital gains amounts, and

  2.  

    •     rebasing election3

Exemption of pre-6 April 2008 capital payments and capital gains amounts

The change that brought non-domiciled beneficiaries within the attribution rules is not retrospective so it does not apply if either4:

  1.  

    •     a capital payment received in 2007/08 or earlier is matched against a section 2(2) amount accruing in 2008/09 or later5, or

  2.  

    •     a section 2(2) amount accruing in 2007/08 or earlier is matched against a capital payment received in 2008/09 or later6

There is no requirement that the beneficiary is a remittance basis user.

This rule applies only

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