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HMRC internal manual

Trusts, Settlements and Estates Manual

HM Revenue & Customs
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Introduction to trusts: supplementary deeds: deed of assignment

A person may accept entitlement under a trust then transfer it onto a specific trust. The transfer is by a deed of assignment. The terms of the new trust or Will may be different from those resulting from a surrender or release of the entitlement. TSEM1850 has details of deeds of surrender or release.

A deed of assignment cannot apply retrospectively. It is effective only from the date the deed is executed.

The person assigning an interest is a ‘settlor’ within Section 620(1) ITTOIA (TSEM4120).

The following provisions may also apply