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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Non-retrospective variations: whether or not assets vested

The effect of a non-retrospective variation depends on whether the assets affected by the variation have vested in the legatees or remain vested in the personal representatives at the date the variation is executed.

If, when dealing with such a non-retrospective disclaimer, variation, Court Order or disposal of a legatee’s interest

  • you are satisfied that the asset(s) involved had vested when the deed was executed, the Court Order was made or the legatee disposed of his or her interest then see CG31920+
  • you conclude that the assets had not vested when the deed was executed then you should follow the instructions at CG31940+.