Taxation of Chargeable Gains Act 1992 section 68

Meaning of "settled property"

Section 68 defines what "settled property" means for the purposes of capital gains tax.

• Settled property is any property held in trust, with one key exception
• The exception is property held by a nominee or bare trustee where another person is absolutely entitled to it (as covered by section 60)
• Where someone is absolutely entitled, the property is treated as belonging to that person rather than to the trust, so it falls outside the definition of settled property
• Any reference in the Act to property "comprised in a settlement" means the same thing as settled property