Point in time view as at 26/05/2015.
Taxation of Chargeable Gains Act 1992, Paragraph 7 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F17(1)The following are “ordinary trust assets” for the purposes of this Schedule—U.K.
(a)shares or securities;
(b)tangible property, whether movable or immovable, or a lease of such property;
(c)property not within paragraph (a) or (b) which is used for the purposes of a trade, profession or vocation carried on—
(i)by the trustees, or
(ii)by a beneficiary who has an interest in possession in the settled property;
(d)any right in or over, or any interest in, property of a description within paragraph (b) or (c).
(2)In sub-paragraph (1)(a) “securities” has the same meaning as in section 132.]
Textual Amendments
F1Sch. 4B inserted (with effect in accordance with s. 92(5) of the amending Act) by Finance Act 2000 (c. 17), s. 92(2), Sch. 25
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