I am dealing with a CGT disposal by a trust which has two settlors - it is the Mr and Mrs X settlement. Mr and Mrs settled a residential property (previously owned jointly) in to trust about 20 years ago.
The property has now been sold. I wanted to confirm whether the trust has a single trust AE for CGT (ie half the personal AE) or whether - because we have two settlors, there is any ability to claim two trust AEs.
Just to clarify it is a single trust with a single trust deed.
Is anyone able to confirm for me. I very much suspect we have just one trust AE at our disposal but am having difficulty finding a definite position on this.