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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Variations: estate: disclaimers: conditions

TCGA92/S62 (6) to (9)

The conditions for a disclaimer to be retrospective for CGT purposes, all of which mustbe satisfied, are that

  • the disclaimer must be effected by an instrument in writing made within two years of the person’s death
  • the persons who wish to disclaim all or part of their entitlement under the will or intestacy provisions must be parties to the instrument
  • there must be no consideration in money or money’s worth for the disclaimer other than consideration in the form of a disclaimer or variation of other dispositions of the same estate.

In contrast to the position with instruments of variation, in the case of a disclaimerwhere the conditions set out in CG31490 are satisfied, the effects described in CG31480apply automatically in all cases. There is no need to refer to s62 (6) TCGA in theinstrument.