SolvedTSEM1845 | Introduction to trusts: supplementary deeds: deed of assignment
From HM Revenue & Customs · Trusts, Settlements and Estates Manual
A person may accept entitlement under a trust then transfer it onto a specific trust. The transfer is by a deed of assignment. The terms of the new trust or Will may be different from those resulting from a surrender or release of the entitlement. TSEM1850 has details of deeds of surrender or release.
A deed of assignment cannot apply retrospectively. It is effective only from the date the deed is executed.
The person assigning an interest is a ‘settlor’ within Section 620(1) ITTOIA (TSEM4120).
The following provisions may also apply