On the death of a life tenant, trustees are deemed to have
The trustees are regarded as bare trustees (TSEM6272). They act
for whoever became absolutely entitled to the trust property. They
can hand over the assets after paying any inheritance tax due. For
CGT purposes, the beneficiary is regarded as absolutely entitled
from the date of death (CG36454 onwards).
There is a clawback of any held-over gain (CG36510). Apart
from that, there is no CGT charge on property that was subject to
the life interest.
Assets continue to be settled property
There is a clawback of any held-over gain (CG36510). Apart
from that, there is no CGT charge.
