{
  "url": "https://openlegislation.uk/finance-act-2003/schedule-16/paragraph-8",
  "json_url": "https://openlegislation.uk/finance-act-2003/schedule-16/paragraph-8.json",
  "legislation": "ukpga/2003/14",
  "legislation_title": "Finance Act 2003",
  "legislation_url": "https://openlegislation.uk/finance-act-2003",
  "path": "schedule/16/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": "Reallocation of trust property as between beneficiaries",
  "text": "Where—\n(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\n(b) the beneficiary consents to ceasing to have an interest in that other property,\nthe fact that he gives consent does not mean that there is chargeable consideration for the acquisition.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 16 para. 8 and cross-heading inserted (with effect in accordance with s. 165(2) of the amending Act) by Finance Act 2006 (c. 25), s. 165(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2003/14/schedule/16/paragraph/8",
    "retrieved_at": "2026-10-29T09:18:27.996599+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}