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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Separate settlements: reopening cases

If it is agreed to change the basis of assessment then all years in date should be reopened if it makes a material difference. It should be borne in mind that the assessments may well be bad because they have been made on the trustees of a non-existent settlement, although the view taken on the preliminary point in Hart v Briscoe may be of some assistance. Here the Court held that a settlement which referred to the wrong trustees was saved by TMA70/S114 (1). Note that if all the trustees are resident, assessments may be made on one trustee, several trustees or all the trustees, see TCGA92/S65.