s.260 TCGA holdover relief

s.260 TCGA holdover relief

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Father just about to gift share in rental property to Relevant Property Trust for benefit of 6 adult children. Holdover under s.260 TCGA will be sought.

There is a real risk that 2 of the children emigrate from the UK within 6 years.

Is there a clawback of the entire held over gain or only 2/6?

In fact who is the donee in this case. Is it not the Trustees? If so, if we ensure the two adult children are not Trustees do we then not have a problem as no Trustees as emigrating?

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By blok
05th Nov 2013 14:01

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Without looking into this in detail, I'd say your final assumption is sound.  the trustees act as a separate single body.  2/6ths should never come into it. 

keep it simple - ensure trust is UK res.

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