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Changes over time for: Cross Heading: Attribution of gains to settlor in section 10A cases


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Version Superseded: 12/02/2019
Status:
Point in time view as at 15/09/2016.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Cross Heading: Attribution of gains to settlor in section 10A cases 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.

Changes to Legislation
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[Attribution of gains to settlor in section 10A casesU.K.
12[(1)This paragraph applies if—U.K.
[(a)by virtue of section 10A, an amount of chargeable gains within section 86(1)(e) that accrued in a tax year (“year A”) to the trustees of a settlement would be treated as accruing to a person (“the settlor”) in the period of return, and]
(b)after paragraph 8 has applied for the year of return, the section 2(2) amount for [year A] that is in the Schedule 4C pool for the settlement is less than the amount mentioned in paragraph (a).
(2)The amount of chargeable gains treated as mentioned in sub-paragraph (1)(a) as accruing to the settlor in the [period of return] is limited to the section 2(2) amount referred to in sub-paragraph (1)(b).]
(4)Where the property comprised in the transferor settlement has at any time included property not originating from the settlor, only so much (if any) of any capital payment taken into account for the purposes of paragraph 8 above as, on a just and reasonable apportionment, is properly referable to property originating from the settlor shall be taken into account in computing the amount charged to beneficiaries.
(5)Expressions used in this paragraph and section 10A have the same meanings in this paragraph as in that section; and paragraph 8 of Schedule 5 shall apply for the construction of the references in sub-paragraph (4) above to property originating from the settlor as it applies for the purposes of that Schedule.]
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