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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Absolute entitlement: meaning

TCGA92/S60 (2)The meaning of absolute entitlement is considered in CG34320. The basic principle is that a person is absolutely entitled if he she or it has the exclusive right to direct the trustee how to deal with the property, see TCGA92/S60 (2). One question which you can ask yourself is whether anyone else is still, or could be a beneficiary under the settlement, with a different kind of interest in that particular asset. If so then absolute entitlement has not yet occurred. If however two or more beneficiaries have similar interests in an asset, and there are no other actual or potential beneficiaries, they are jointly absolutely entitled.