Originally posted by northernladuk
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Although it's worth noting that he legislation doesn't talk about connected or unconnected persons. It mentions spouses as being caught unless the spouse exemption applies; children; and trust situations. Nothing else.
It all hinges on the issue of retained interest, not who received them (unless one of the above). HMRC guidance says that most settlement cases will only apply to spouses or children although "in theory" could apply to any two people.
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