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Settlor's interest for CGT purposes

A settlor has an interest in a settlement if¹:

1. Ìý

   •ÌýÌýÌýÌý any settled property or income which originates from the settlor (see I5.1227) is, or will or may become payable to, or applicable for the benefit of, a defined person (see below) in any circumstances whatever (see below), or

2. Ìý

   •ÌýÌýÌýÌý any defined person enjoys a benefit directly or indirectly from any settlement property or income which originates from the settlor

There are transitional rules for settlements created before 17 March 1998².

Defined person

A 'defined person' is any of the following³:

1. Ìý

   •ÌýÌýÌýÌý the settlor

2. Ìý

   •ÌýÌýÌýÌý the settlor's spouse or civil partner

3. Ìý

   •ÌýÌýÌýÌý any child (of any age) of the settlor or the settlor's spouse or civil partner

4. Ìý

   •ÌýÌýÌýÌý any spouse or civil partner of any such child

5. Ìý

   •ÌýÌýÌýÌý any grandchild (of any age) of the settlor or the settlor's spouse or civil partner

6. Ìý

   •ÌýÌýÌýÌý the spouse or civil partner of any such grandchild,