Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
, see all updates

Variations: estate: disclaimers: CGT: if conditions satisfied

TCGA92/S62 (6) & (7)

If the conditions set out in CG31490 below are satisfied the disclaimer will be treatedfor Capital Gains Tax purposes

  • as not being a disposal

and

  • as if the disclaimed benefit had not been conferred by the will or intestacy.

In other words the effects of the disclaimer are treated as being retrospective to thedate of death.

If the conditions in CG31490 are satisfied, there will be no chargeable occasion for thepersonal representatives either on the occasion of the disclaimer or when the assets vestin the remaining legatees.

Whether or not the assets have already vested in the legatee, there will be no chargeableoccasion for the legatee on the occasion of the disclaimer.