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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Annual exempt amount: trust exemption: procedures

You should remember that

  • the number of qualifying settlements may vary from year to year and
  • you need take into account only qualifying settlements made after 6 June 1978, when considering the restriction of trust exemption.

Where there is any question about the accuracy of the number returned, you should askthe trustees to identify the qualifying settlements in the group of which they are awareand to obtain confirmation from the settlor that the list is complete.