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HMRC internal manual

Trusts, Settlements and Estates Manual

From
HM Revenue & Customs
Updated
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Legal background to trusts & estates: administrators - value of transferred assets

For capital gains tax purposes, personal representatives are deemed to have acquired the assets at the date of death. The deemed acquisition is at the market value. The death is not an occasion of charge. (CG30330onwards). External customers can find this guidance onwards from .

Similarly, there is no charge when personal representatives transfer an asset to the person entitled to it. he transfer is deemed to be at the same value as when the personal representatives acquired it (CG31140). External customers can find this guidance at .