The Farm would need to be sold out of the Trust. The trust will be liable for the CGT on the nett gain, unless the Trust Deed states that the Capital can be vested in the beneficiaries. One would need to study the Trust Deed to determine this. If the original intention was investment and the proceeds are not going to be "distributed" to the beneficiaries, then rollover relief could apply, which would mean that you could take the entire proceeds and buy another Farm or similar asset.
A Trust cannot be sold
Blog Categories
Recent Visitors
Archive
Go to Profile
Mark as Read
