CG38470 | Who are the defined persons - TCGA92/S86?

TCGA92/Sch5/para2(3)

The defined persons are:

• the settlor

• the settlor’s spouse or civil partner

• any child of the settlor or of the settlor’s spouse or civil partner

• the spouse or civil partner of any such child

• any grandchild of the settlor or of the settlor’s spouse or civil partner

• the spouse or civil partner of any such grandchild

• a company controlled by a person or persons listed above

• a company associated with such a company.

Child includes stepchild.

It is possible for the settlor to be excluded from the settlement and still be liable under TCGA92/S86 because other defined persons may benefit.