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HMRC internal manual

Capital Gains Manual

Trusts: outline of CGT for trusts: the settlement

CGT is charged on the trustees of `the settlement’. The word `settlement’ has broadly thesame meaning as `trust’ in CG33020, but one settlement may contain several trusts or fundsdealing with different property or different individuals. The settlement is treated forCGT purposes as the taxable entity. It is therefore important to know whether there is onesettlement or several, see CG33280+. The word ‘settlement’ is not defined as such for thegeneral purposes of CGT or IT.