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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Wasting assets: settled property

TCGA92/S44

A life interest in settled property is regarded as a wasting asset if the predictable life of the person by reference to whose life the duration of the interest is measured was fifty years or less, when the interest was acquired.

CG38020+ tells you how to obtain an estimate of that predictable life.