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HMRC internal manual

Capital Gains Manual

Annual exempt amount: example

Q and R are trustees of property subject to a deed of settlement made in 1979. Thesettlors are S, who has made two other settlements since 6 June 1978, and T, who has madethree other settlements since then. None of the settlements is an `excluded’ settlement,see CG18112 - CG18113.

The exempt amount for the year is £5,000. The trust exemption is therefore £2,500.

The exemption due to Q and R as trustees is £625. This is arrived at by dividing thetrust exemption of £2,500 by 4 (the number of qualifying trusts in T’s group, seeCG18111).