TSEM4515 - Settlements legislation: certificate under S78 TCGA 1992

TCGA92/S77 treats chargeable trust gains as those of the settlor. This can create additional tax liability on the settlor. He or she can recover this tax from the trustees. To do so the settlor can require a certificate specifying such gains and the tax paid.

The settlor’s tax office issues these certificates. Details are at CG34970 to 34976.