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Legislation
Taxation of Chargeable Gains Act 1992

Crossheading Migration of settlements, non-resident settlements and dual resident settlements

  • Section 80 Trustees ceasing to be resident in U.K.
  • Section 80A Postponing gain or loss under section 80(2): interests in UK land
  • Section 81 Death of trustee: special rules.
  • Section 82 Past trustees: liability for tax.
  • Section 83 Trustees ceasing to be liable to U.K. tax.
  • Section 83A Trustees both resident and non-resident in a year of assessment
  • Section 84 Acquisition by dual resident trustees.
  • Section 85 Disposal of interests in non-resident settlements.
  • Section 85A Transfers of value: attribution of gains to beneficiaries and treatment of losses
  • Section 86 Attribution of gains to settlors with interest in non-resident or dual resident settlements.
  • Section 86A Attribution of gains to settlor where temporarily non-resident
  • Section 87 Non-UK resident settlements: attribution of gains to beneficiaries
  • Section 87A Section 87: matching
  • Section 87B Section 87: remittance basis
  • Section 87BA Sections 87 and 87A: disregard of capital payments made from carried interest gains
  • Section 87C Sections 87 and 87A: disregard of certain capital payments
  • Section 87D Sections 87 and 87A: disregard of capital payments to non-residents
  • Section 87E Sections 87 and 87A: disregarded payments to temporary non-resident
  • Section 87F Sections 87 and 87A: disregarded payments in year settlement ends
  • Section 87G Settlor liable if capital payment received by close family member
  • Section 87H Meaning of “close member of the settlor's family”
  • Section 87HA Onward gifts from non-residents or qualifying new residents
  • Section 87I Non-UK resident settlements: recipients of onward gifts
  • Section 87J Relevant parts of payment from which onward gift derived
  • Section 87K Attribution of gains or payments to recipient of onward gift
  • Section 87L Cases where settlor liable following onward gift
  • Section 87M Cases where recipient of onward gift is user of remittance basis
  • Section 87N Sections 87 and 87A: disregard of payments to migrating beneficiary
  • Section 87P Sections 87 and 87A: temporary migration after payment disregarded
  • Section 88 Gains of dual resident settlements.
  • Section 89 Migrant settlements etc.
  • Section 90 Sections 87 and 89(2): transfers between settlements
  • Section 90A Section 90: transfers made for consideration in money or money's worth
  • Section 91 Increase in tax payable under section 87 or 89(2).
  • Section 92 Qualifying amounts and matching.
  • Section 93 Matching: special cases.
  • Section 94 Transfers of settled property where qualifying amounts not wholly matched.
  • Section 95 Matching after transfer.
  • Section 96 Payments by and to companies.
  • Section 97 Supplementary provisions.
  • Section 97A Value of benefit conferred by capital payment made by way of loan
  • Section 97B Value of benefit conferred by capital payment made by way of making movable property available
  • Section 97C Value of benefit conferred by capital payment made by way of making land available
  • Section 98 Power to obtain information for purposes of sections 87 to 90.
  • Section 98A Settlements with foreign element: information.
  1. Migration of settlements, non-resident settlements and dual resident settlements
  2. Death of trustee: special rules.

Section 81 | Death of trustee: special rules.

From legislation.gov.uk

(1)Subsection (2) below applies where—

(a)section 80 applies as a result of the death of a trustee of the settlement, and

(b)within the period of 6 months beginning with the death, the trustees of the settlement become resident ... in the United Kingdom.F1

(2)That section shall apply as if the defined assets were restricted to such assets (if any) as—

(a)would be defined assets apart from this section, and

(b)fall within subsection (3) or (4) below.

(3)Assets fall within this subsection if they were disposed of by the trustees in the period which—

(a)begins with the death, and

(b)ends when the trustees become resident ... in the United Kingdom.F2

(4)Assets fall within this subsection if—

(a)they are of a description specified in any double taxation relief arrangements,

(b)they constitute settled property of the settlement at the time immediately after the trustees become resident ... in the United Kingdom, andF3

(c)were the trustees to dispose of them at that time, the trustees would fall to be regarded for the purposes of the arrangements as not liable in the United Kingdom to tax on gains accruing to them on the disposal.

(5)Subsection (6) below applies where—

(a)at any time the trustees of a settlement become resident ... in the United Kingdom as a result of the death of a trustee of the settlement, andF4

(b)section 80 applies as regards the trustees of the settlement in circumstances where the relevant time (within the meaning of that section) falls within the period of 6 months beginning with the death.

(6)That section shall apply as if the defined assets were restricted to such assets (if any) as—

(a)would be defined assets apart from this section, and

(b)fall within subsection (7) below.

(7)Assets fall within this subsection if—

(a)the trustees acquired them in the period beginning with the death and ending with the relevant time, and

(b)they acquired them as a result of a disposal in respect of which relief is given under section 165 or in relation to which section 260(3) applies.

Notes

  1. F1

    Words in s. 81(1)(b) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 85(2)

  2. F2

    Words in s. 81(3)(b) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 85(3)

  3. F3

    Words in s. 81(4)(b) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 85(4)

  4. F4

    Words in s. 81(5)(a) omitted (with effect in accordance with Sch. 46 para. 112 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 85(5)

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