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HMRC internal manual

Capital Gains Manual

Disposals by trustees: expenses: xsfer to person absolutely entitled

When trustees transfer property to a person absolutely entitled to that property that person may bear the costs of the transfer. He or she can deduct the costs of the transfer on a later disposal of the property. Alternatively he or she may allow the trustees to deduct the costs in computing their chargeable gain on the deemed disposal. In this case TCGA92/S52(1) prohibits the same deduction from being allowed twice.