Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Chapter CG31940

Document Cited authorities 1 Cited in Related
Vincent
Published date12 March 2016
Record NumberCG31940
CourtHM Revenue & Customs

If the variation

  • is made at a time when the assets involved are vested in the personal representatives

and

  • the variation is not treated as being retrospective to the date of death

  • by reason of Section 2 of the Inheritance (Provisions for Family and Dependants) Act 1975

or

  • by the application of TCGA92/S62 (6)

then the following instructions should be followed in deciding what the Capital Gains Tax consequences are

  • where assets that were due to pass to a trust no longer pass to that trust, see CG32080+
  • in all other cases see below and the rest of this section, CG31960 to CG32070.

Whilst the assets of the estate remain vested in the personal representatives, all that a legatee holds is a chose in action, being the right to have the estate correctly administered in due course. This chose in action is...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT