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HMRC internal manual

Trusts, Settlements and Estates Manual

Introduction to trusts: supplementary deeds: deed of surrender or release

A person may accept entitlement under a trust then give it up. This enables a subsequent trust to take effect. If that person seeks to impose new trusts, the deed is not a surrender or release. It is an assignment (TSEM1845).

A deed of surrender or release cannot apply retrospectively. It is effective only from the date the deed is executed.

The person surrendering or releasing is a ‘settlor’ within Section 620(1) ITTOIA (TSEM4120).

The following provisions may also apply

  • Section 624 ITTOIA (TSEM4200)
  • Section 629 ITTOIA (TSEM4300).