Hi,
The Settlor places their home into a Settlor Interest Trust, and continues to live in that home. After the Settlor is deceased, the Trustees decide to sell the home, when is CGT due?
The Settlor lives in the home and so it is a GWR.
I've read that the Settlor is effectively a life tenant, and so on the Settlors death the Trust immediately acquires the property but there is no CGT at that point because s73 excludes a charge when the gain arises on death.
Therefore is the CGT payable calculated on the gain between the Settlors Death and Trustee's Sale? Or is it calculated on the gain between entry of the property into Trust and Sale?
Thanks.
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