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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Basic terms of trust law as applied to CGT: settlor: up to 5 April 2006

Where trustees exercise a special power of appointment, or power of advancement, in such a way as to create a new settlement, see CG33800+, the settlor of the new settlement is the person who was the settlor of the old one. See, for example, Pilkington v CIR, 40TC416, page 442, and Chinn v Collins, 54TC311, page 351H.