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HMRC internal manual

Capital Gains Manual

Separate settlements: preservation of powers of old settlement

In Ewart v Taylor 57TC, at page 468A, the judge said that introducing some of the powersfound in the old settlement into the deed of appointment in this way did not necessarilyprevent a new settlement from having been created if the powers were only incorporated`reverentially’, that is to say to save the draughtsmen from having to write them word forword into the text of the deed of appointment. It is necessary to consider the nature ofthe powers themselves, in deciding whether a new settlement has been brought intoexistence, not merely the manner in which they have been introduced into the deed ofappointment. See also Swires v Renton, L3278, page 5, last full paragraph.