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HMRC internal manual

Capital Gains Manual

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

An estimate of `predictable life’ at the date of the acquisition by the disponor may be obtained from Revenue Policy Business Tax (Life Assurance). The request should be accompanied by a copy of the instrument creating the life interest in order that it may be seen

  • whether the life interest is sole or joint
  • whether the life interest is in possession or dependent on the death of a previous life tenant, and
  • whether the life tenant is male or female.See CG68960+ as regards the valuation of an interest in settled property.