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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Legatees: sells interest in estate before assets vest

The effect of this transaction is the same as when a legatee in return for full consideration executes a deed of variation which is not retrospective to the date of death. The only difference in the case of a sale to a third party at arm’s length is that the disposal consideration is the price received rather than the market value of the expectation. You should therefore follow the instructions at CG31940+ substituting as the disposal consideration the sum received.