CGT Exemption and Standard Rate Band


(andy.cook) #1

Where a settlor has created multiple settlements (during their lifetime and on their death) both UK and overseas, what rules apply to the calculation of the value of the CGT annual exemption and the income tax standard rate band that applies to each trust that still exists in the current tax year?

Andy Cook
Rollits


(Maxine Higgins) #2

Generally the CGT allowance & SRB are divided by the number of trusts created by that settlor, subject to a maximum of 5 trusts (after that the allowances are not reduced further) and for CGT, but not SRB, only post 1974 trusts are considered.

Maxine Higgins
Citroen Wells