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Capital Acquisitions Tax Consolidation Act 2003 section 20
Annual acquisitions by discretionary trusts
Section 20 provides that property held in a chargeable discretionary trust is deemed to be taken as an annual inheritance on each chargeable date, giving rise to a 1% annual discretionary trust tax charge, and contains anti-avoidance rules to prevent the charge being circumvented by temporarily appointing property out of the trust.
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