568 Liability of trustees, etc

Summary

This section makes special provision relating to the assessment of the trustees of a settlement and the personal representatives of a deceased person.

Details

(1) Where an assessment to capital gains tax is to be made on trustees or personal representatives, the assessment may be made on any one or more of the trustees or personal representatives.

(2) Where trustees or personal representatives are chargeable to tax on gains accruing to them, the charge rests on them alone and there is no “looking through” to the beneficiary except in the case of a beneficiary absolutely entitled as against the trustee (section 567(2)). Thus, the exemption of gains of €1,270 and under which is available to individuals does not apply in the case of trustees or personal representatives.

Relevant Date: Finance Act 2021