CG37901 - Separate settlements: variations: identity of settlor
If however one or more new settlements have come into existence, then the settlors of those settlements are one or more of the parties to the variation. The question should be tackled on a practical basis by determining where each beneficiary's share has gone. See CG37888 for cases involving a TCGA92/S62 (7) TCGA election.
If there is a notice under S62(7) and the variation was effected after 5 April 2006 then S68C applies, see CG37888.