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HMRC internal manual

Capital Gains Manual

Absolute entitlement: part of trust fund: immediately

Thus if, in the situation described in CG37520, the trustees have no such power of appropriation and own a holding of 300 ordinary shares in X Ltd, A should be regarded as becoming entitled to 100 ordinary shares in X Ltd on attaining age 25 and the trustees as disposing of the 100 shares under Section 71(1) on that date and as holding them thereafter as bare trustees for A.