Breaking an IIP Trust

[portal]

Individual settles property on an interest in IiP trust. Life tenant is son and grandchildren are the final beneficiaries. All parties now wish to break the trust so that property goes back to Settlor. Am I correct that this will create no CGT charge (there was no holdover originally)?

Would the postion be any different if the father was not the original settlor?

Thanks

[Taxbar]

CGT on appointment of trust assets to son or g/father if there is a gain.

Settlor if excluded from all benefit and not a beneficiary cannot get the asset back from the trust. The one who is appointed the asset can gift it back but there is IHT to consider?
One to take good professional advice on.

Daniel Feingold
STP
info@stratax.co.uk