TSEM6076 - Legal background to trusts and estates: personal representatives pay assets to trustees
Personal representatives may assent to assets going to trustees. Trustees and personal representatives may be the same individuals but acting in a different capacity. For capital gains tax purposes, they receive the assets as legatees (CG31140).
»Ê¹ÚÌåÓýappy cannot hold an asset simultaneously in both capacities. But they may hold some assets as personal representatives, at the same time as they hold other assets as trustees.