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HMRC internal manual

Capital Gains Manual

Settlement - TCGA92/S86

There is no statutory definition of settlement for the purposes of TCGA92/S86. Therefore settlement has its ordinary meaning and a properly constituted trust other than a bare trust will be a settlement. However, a significant restriction on the types of settlement caught comes from the definition of settlor in TCGA92/Sch5para7, CG38445.