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HMRC internal manual

Capital Gains Manual

Absolute entitlement: occasions of absolute entitlement: general

The common feature in all these cases is that the particular beneficiary now has an absolute interest in the particular assets. There is no one else who has any kind of interest in those assets under the settlement apart from, in certain cases, another beneficiary or beneficiaries with interests which are of the same kind. The trustees may hold onto the assets; indeed they may be entitled to, in order to meet their expenses, but this is disregarded.