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HMRC internal manual

Capital Gains Manual

Settlor trusts: computations: multiple settlors

References to derived property arising under a settlement in relation to any property are references only to

  • income from property originating from that property,
  • any other property directly or indirectly representing

    • proceeds of that property or income from it or
    • income from such proceeds.

On ‘derived property’ see CG34750.