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Reliefs for non-domiciled beneficiaries—overview

Although non-domiciled beneficiaries are now within the charge to CGT if they receive capital payments from a non-resident¹or migrant settlement², there are a number of reliefs available:

1. Ìý

   •ÌýÌýÌýÌý exemption of pre-6 April 2008 capital payments and capital gains amounts, and

2. Ìý

   •ÌýÌýÌýÌý rebasing election³

Exemption of pre-6 April 2008 capital payments and capital gains amounts

The change that brought non-domiciled beneficiaries within the attribution rules is not retrospective so it does not apply if either⁴:

1. Ìý

   •ÌýÌýÌýÌý a capital payment received in 2007/08 or earlier is matched against a section 2(2) amount accruing in 2008/09 or later⁵, or

2. Ìý

   •ÌýÌýÌýÌý a section 2(2) amount accruing in 2007/08 or earlier is matched against a capital payment received in 2008/09 or later⁶

There is no requirement that the beneficiary is a remittance basis user.

This rule applies only if the beneficiary is non-domiciled