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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Interests in possession: further points

The tests for determining whether there is an interest in possession are largely the sameas those applied in determining whether ICTA88/S686 (2)(a) applies, see TSEM3020. However,there may be exceptional cases where the tests are different, in particular becauseSection 686 normally applies in cases where there is a right to accumulate the income,whereas if the accumulations must go to the beneficiary (or his or her estate) it canstill be an interest in possession.