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HMRC internal manual

Capital Gains Manual

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HM Revenue & Customs
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Absolute entitlement: special cases

The basic principle is that a person is absolutely entitled as against the trustee if thatperson, subject to certain rights of the trustees to hold onto the asset or use it to meettax liabilities and costs etc, has the exclusive right to direct how that asset shall bedealt with, see TCGA92/S60 (2). The purpose of this chapter is to examine certain types ofcases where the precise rights of the beneficiary need to be established in order todetermine whether that person has become absolutely entitled at a particular moment.CG34380+ deal with other types of case where the question tends to be whether someone isalready absolutely entitled, so that there is a bare trust.