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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Unit trusts: different portfolios


If a unit trust has a number of different portfolios, transfers by a unit holder between each portfolio should be treated as a chargeable disposal and an acquisition of new units. TCGA92/S102 prevents the share reorganisation provisions of TCGA92/S127-TCGA92/S131 from applying to the transfer.