CG37872 | Separate settlements: substance of the transaction
From HM Revenue & Customs · Capital Gains Manual
He then compares two typical cases, the conventional use of a special power ofappointment, which would not normally give rise to a new settlement, and the exercise of apower `to appoint and appropriate a part or portion of the trust property to beneficiariesand to settle it for their benefit.’ In the latter case it would probably be a newsettlement.