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HMRC internal manual

Capital Gains Manual

Separate settlements: variations: identity of settlor

If however one or more new settlements have come into existence, then the settlors ofthose settlements are one or more of the parties to the variation. The question should betackled on a practical basis by determining where each beneficiary’s share has gone. SeeCG37888 for cases involving a TCGA92/S62 (7) TCGA election.

If there is a notice under S62(7) and the variation was effected after 5 April 2006 thenS68C applies, see CG37888.