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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Disposal of interests in settlements: computation of gain

Where the disposal of a life interest gives rise to a chargeable gain, that interest should be regarded as a wasting asset, see CG76700, if the predictable life of the person by reference to whose life the duration of the interest is measured is 50 years or less at the date of acquisition.