Paragraph 2

In section 90 of the M1Taxation of Chargeable Gains Act 1992 (transfers between settlements), after subsection (4) add—

“(5)

This section shall not apply—

(a)

to a transfer to the extent that it is in accordance with Schedule 4B treated as linked with trustee borrowing; or

(b)

to any chargeable gains arising by virtue of that Schedule.”.