80 Trustees ceasing to be resident in UK
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

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

80  Trustees ceasing to be resident in UK

(1)     This section applies if the trustees of a settlement become at any time (“the relevant time”) [not resident] in the United Kingdom.

(2)     The trustees shall be deemed for all purposes of this Act—

(a)     to have disposed of the defined assets immediately before the relevant time, and

(b)     immediately to have reacquired them,

at their market value at that time.

(3)     Subject to subsections (4) and (5)

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