This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Capital Gains Manual

Settlor trusts: computations: settlor becoming absolutely entitled

TCGA92/S71 (1)

Where the settlor becomes absolutely entitled as against the trustee, TCGA92/S71 (1), applies in the normal way, and a chargeable gain or allowable loss arises, see CG37003. Losses may be transferred under TCGA92/S71 (2), see CG37200+. Section 77 provides rules under which the settlor is assessed on the trustees’ gains. There is no looking through. If however absolute entitlement occurs on the termination of a life interest, see CG36457.