Paragraph 4

(1)

Section 225 of the Taxation of Chargeable Gains Act 1992 is amended as follows.

(2)

In the opening words—

(a)

for “a trustee” substitute “ the trustees of a settlement ”, and

(b)

for “the trustee” substitute “ the trustees ”.

(3)

In paragraph (a), for “the trustee” substitute “ the trustees ”.

(4)

In paragraph (b)—

(a)

for “the inspector” substitute “ an officer of the Board ”, and

(b)

for “the trustee” substitute “ the trustees ”.

(5)

At the end of that paragraph insert “ ; but section 223 (as so applied) shall apply only on the making of a claim by the trustees. ”.