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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Legatees: acquisitions: acquisitions by legatees

TCGA92/S62 (4) (b)

During the period of administration a legatee holds only a chose in action, see CG30760- 30762. When the beneficial ownership of an asset vests in a legatee, see CG30910 -CG30944, TCGA92/S62 (4)(b) directs that the legatee is to be treated as if the acquisitionof the asset by the personal representatives had been the legatee’s acquisition of theasset.