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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Residence of trustees: from 6 April 2007

TCGA92/S69 (2) to (2E)

With effect from 6 April 2007, by reason of amendments to TCGA92/S69 in FA 2006, the residence status of trustees for the purposes of CGT is identical to that which applies for the purposes of income tax.

The relevant guidance is at TSEM1461.

In particular the special treatment of professional trustees under the previous law has been abolished.

The ‘general administration’ test has also been abolished. In its place is a provision covering the situation where a non-resident trustee carries on business in the UK.

If a relief is only available to residents, the test is applied at the relevant time.

There may be a charge under TCGA92/S80 where trustees cease to be resident in the UK.