Section 87F — Taxation of Chargeable Gains Act 1992: Sections 87 and 87A: disregarded payments in year settlement ends

Sections 87 and 87A: disregarded payments in year settlement ends 87F 1 This section applies in relation to a settlement if—

a in a particular tax year, the settlement ceases to exist, b two or more beneficiaries (“the recipients”) in the year receive capital payments from the trustees, and c at least one of the recipients is, and at least one is not, a non-resident beneficiary.

2 Those capital payments, so far as received by such of the recipients as are non-resident beneficiaries, are not within section 87D(2).

3 In this section “ non-resident beneficiary ” means a beneficiary who at all times in the year is not resident in the United Kingdom.