Taxation of Chargeable Gains Act 1992 section 77

Charge on settlor with interest in settlement

Section 77 previously imposed a capital gains tax charge on a settlor who retained an interest in a settlement, but was removed from the legislation for the 2008-09 tax year onwards.

• Section 77 provided rules for charging capital gains tax on settlors who had an interest in their own settlements.
• The section was omitted by Finance Act 2008, section 8 and Schedule 2, paragraph 5.
• The removal took effect from the 2008-09 tax year and all subsequent tax years.
• The repeal formed part of the wider capital gains tax reform programme introduced by the Finance Act 2008.