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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Separate settlements: variations of trusts: under Variation of Trusts Act

If so the principles of CG37880 - CG37882 apply. The degree of variation may exceptionally be such as to involve the termination of the original settlement in whole or in part and the creation of a new settlement. The fact that the courts may only consent to variation of the trusts does not prevent this. (If so then consideration must be given to the identity of the settlor, see CG37900.) A variation may also cause a beneficiary to become absolutely entitled to assets as against the trustees.