Quilter 9 A settlor makes an investment into a Collective Investment Bond The bond is transferred into a Settlor Excluded Discretionary Trust The Trustees determine when and how benefits will be paid to the beneficiaries. Chargeable event liability assessable on the beneficiary By completing a ‘deed of appointment’ and specifying the number of policies they wish to assign to a beneficiary. When the trustees surrender the assigned policies, any chargeable event liability will be assessable on the beneficiary. * Chargeable event liability assessable on the Settlor By choosing not to complete a ‘deed of appointment’ and instead just requesting the surrender from the discretionary trust, any chargeable event liability will be assessable on the settlor of the trust, or the trustees if the settlor has died in a previous tax year. * For a minor beneficiary the Parental settlor rules will apply and chargeable gains above £100 will be assessable on the parents.