Income and Corporation Taxes Act 1988

700 Adjustments and information. U.K.

M1 (1) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) F2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F3 (5) It shall be the duty of a personal representative of a deceased person, if a request to do so is made in writing by a person who has, or has had, an absolute or limited interest in the residue of the estate of the deceased or by a person to whom any of the income of the residue of that estate has been paid in the exercise of any discretion, to furnish the person making the request with a statement in writing setting out—

(a) F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F5 (aa) the amount treated as estate income under Chapter 6 of Part 5 of ITTOIA 2005 in respect of that interest or the exercise of that discretion for which he is liable to income tax for a year of assessment, and]

(b) the amount of any tax at the applicable rate which any amount falling within paragraph F6 . . . [F7 (aa)] above is deemed to have borne;

and, where an amount F8 . . . [F9 treated as estate income under that Chapter] is deemed for any of the purposes of F8 . . . [F10 that Chapter] to have borne tax on different parts of it at different applicable rates, the matters to be set out in pursuance of [F11 paragraphs [F12 (aa) and] (b)] above shall be set out separately as respects each part of that amount.

(6) The duty imposed by subsection (5) above shall be enforceable at the suit or instance of the person making the request.

[F13 (7) This section is to be read as if it were in Chapter 6 of Part 5 of ITTOIA 2005.]]

Textual Amendments

F1 S. 700(1)-(3) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 209(a), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F2 S. 700(4) omitted (13.8.2009) by virtue of The Finance Act 2009, Schedule 47 (Consequential Amendments) Order 2009 (S.I. 2009/2035), art. 1, Sch. para. 18

F3 S. 700(5)(6) inserted (1.5.1995) by Finance Act 1995 (c. 4), Sch. 18 para. 6

F4 S. 700(5)(a) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 209(c)(i), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F5 S. 700(5)(aa) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 291(6)(c) (with Sch. 2)

F6 Words in s. 700(5)(b) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 209(c)(ii), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F7 Words in s. 700(5)(b) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 291(6)(d) (with Sch. 2)

F8 Words in s. 700(5) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 209(c)(iii), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

F9 Words in s. 700(5) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 291(6)(e) (with Sch. 2)

F10 Words in s. 700(5) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 291(6)(f) (with Sch. 2)

F11 Words in s. 700(5) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 291(6)(g) (with Sch. 2)

F12 Words in s. 700(5) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 209(c)(iii) (with Sch. 2 Pts. 1, 2)

F13 S. 700(7) inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 209(d) (with Sch. 2 Pts. 1, 2)

Marginal Citations

M1 Source-1970 s.431; 1971 Sch.6 57