CG33500 - Disposals by trustees: general

Gains arising from the disposal of trust assets, whether of assets originally settled or acquired subsequently by the trustees, are chargeable on the trustees.

See CG35400 for provisions governing alternative collection from beneficiaries.

See CG37200+ for the circumstances in which losses incurred by trustees are transferred to the beneficiaries.

Except in a case where a beneficiary is absolutely entitled as against the trustee or would be absolutely entitled but for being an infant or otherwise under legal disability, see CG34320, to the property disposed of, the gains on disposal of trust property are the gains of the trustee and are not to be regarded as the gains of any other person. However see CG38400+ for non-resident settlements.

TCGA92/S65 (2)

TCGA92/S65 (2) denies to trustees the benefit of the remittance basis on gains accruing on the disposal of assets situated outside the UK, see CG10930.