Beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Trusts, Settlements and Estates Manual

Legal background to trusts and estates: personal representatives pay assets to trustees

Personal representatives may assent to assets going to trustees. Trustees and personal representatives may be the same individuals but acting in a different capacity. For capital gains tax purposes, they receive the assets as legatees (CG31140). External customers can find this guidance at www.hmrc.gov.uk/manuals/cgmanual/CG31140.htm

They cannot hold an asset simultaneously in both capacities. But they may hold some assets as personal representatives, at the same time as they hold other assets as trustees.