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HMRC internal manual

Capital Gains Manual

Death and Personal Representatives: Variation of the devolution of an estate: Deeds of disclaimer: Variations: estate: disclaimers: conditions

TCGA92/S62 (6) to (9)

The conditions for a disclaimer to be retrospective for CGT purposes, all of which must be 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 disclaimer where the conditions set out in CG31490 are satisfied, the effects described in CG31480 apply automatically in all cases.  There is no need to refer to s62 (6) TCGA in the instrument.