# Taxation of Chargeable Gains Act 1992, Paragraph 1

Extent: E+W+S+N.I.

(1) This Schedule applies where trustees of a settlement—
(a) make a transfer of value (see paragraph 2) in a year of assessment in which the settlement is within section ... 86 or 87 (see paragraph 3), and
(b) in accordance with this Schedule the transfer of value is treated as linked with trustee borrowing (see paragraphs 4 to 9).
(2) Where this Schedule applies the trustees are treated as disposing of and immediately reacquiring the whole or a proportion of each of the chargeable assets that continue to form part of the settled property (see paragraphs 10 to 13).

---
Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/4B/paragraph/1 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-4B/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.