This section has no associated Explanatory Notes
6U.K.Where—
(a)the trustees of a settlement reallocate trust property in such a way that a beneficiary acquires an interest in certain trust property and ceases to have an interest in other trust property, and
(b)the beneficiary consents to ceasing to have an interest in that other property,
the fact that the beneficiary gives consent does not mean that there is chargeable consideration for the acquisition.
Commencement Information
I1Sch. 8 para. 6 in force at 1.4.2018 by S.I. 2018/34, art. 3