Related Commentary  Related HMRC Manuals

169VH(1)  Where a disposal falling within section 169VC(1)(a) and (b) is made by the trustees of a settlement, section 169VC does not apply to the disposal unless there is at least one individual who is an eligible beneficiary in respect of the disposal.

169VH(2)  For the purposes of this section, an individual is an “eligible beneficiary” in respect of the disposal if–

(a)at the time immediately before the disposal, the individual has under the settlement an interest in possession in settled property that includes or consists of the holding of shares mentioned in section 169VC(1),

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