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HMRC internal manual

Capital Gains Manual

Settlor trusts: introduction: summary of provisions

TCGA92/S77, TCGA92/S78, TCGA92/S79

These provisions apply to disposals by trustees on or after 6 April 1988 and before 6 April 2008 if

  • both the settlor and the trustees are resident in the UK during any part of the year (or ordinarily resident in the UK during the year), and
  • the settlor or the settlor’s spouse or civil partner, at any time during the year of assessment

    • has an interest in the settlement, or
    • enjoys a benefit deriving from the settlement income or property, see CG34751.

With effect from 6 April 2006 the provisions also apply to settlements, whenever made, where the settlor’s minor child or step-child (unless married or with a civil partner) is entitled to benefit or does in fact benefit from the settlement, except to the extent that as a result of a claim the settlement falls within the vulnerable beneficiaries’ régime described in CG35550+.