Part IIIIncome Tax, Corporation Tax and Capital Gains Tax
Chapter IITaxation of Chargeable Gains
Rate for trustees
120Rate of CGT for trustees etc
1
In section 4 of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992 (rates of capital gains tax), after subsection (1) there shall be inserted the following subsection—
1AA
The rate of capital gains tax in respect of gains accruing to—
a
the trustees of a settlement, or
b
the personal representatives of a deceased person,
in a year of assessment shall be equivalent to the rate which for that year is applicable to trusts under section 686(1) of the Taxes Act.
2
Subsection (1) above applies for the year 1998-99 and subsequent years of assessment.