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Charity and cash

06 December 2006
Issue: 4087 / Categories: Forum & Feedback

We act on behalf of a trust. Following the recent death of the life tenant, the trustees are required to pay some relatively small 'legacies' (fixed cash amounts) to individuals and then to hold the remainder for distribution to charities at the trustees' discretion.
Whilst the trust benefited from a capital gains tax free uplift on the death of the life tenant, the investments have increased in value since then.

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