beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Capital Gains Manual

Separate settlements: appointment or advancement by trustees

A power of appointment or advancement over settled property may be exercised in such a waythat no beneficiary becomes absolutely entitled to the trust assets as against thetrustees because those assets are still held in trust as settled property. In thesecircumstances, it is necessary to decide whether the property has remained in the originalsettlement or whether it has become subject to what is essentially a new settlement.