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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Personal representatives: beneficial ownership: when residue ascertained

The leading case providing authority for this principle is CIR v Sir Aubrey Smith 15TC661. In that case Lord Hanworth MR said at the bottom of page 675, top of page 676

`The question is, in all cases: has the administration of the estate reached a point of ripeness at which you can infer an assent; at which you can infer that the residuary estate has been ascertained and that it is outstanding and not handed over merely for some other reason.’