Income and Corporation Taxes Act 1988

PART XVI U.K. ESTATES OF DECEASED PERSONS IN COURSE OF ADMINISTRATION

695 Limited interests in residue. U.K.

F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 695 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 204, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

696 Absolute interests in residue. U.K.

F2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2 S. 696 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 205, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

697 Supplementary provisions as to absolute interests in residue. U.K.

F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3 S. 697 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 206, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

698 Special provisions as to certain interests in residue. U.K.

F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 S. 698 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 207, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F6 698A Taxation of income of beneficiaries at lower rate or at rates applicable to [F5 distribution] income. U.K.

F7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F5 Word in s. 698A sidenote 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. 288(5) (with Sch. 2)

F6 S. 698A inserted (27.7.1993 with effect for the year 1993-1994 and subsequent years of assessment) by 1993 c. 34, s. 79, Sch. 6 paras. 11(2), 25(1)

F7 S. 698A repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 150, Sch. 3 Pt. 1 (with Sch. 2)

699 Relief from higher rate tax for inheritance tax on accrued income. U.K.

F8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F8 S. 699 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 289, Sch. 3 (with Sch. 2)

[F9 699A Untaxed sums comprised in the income of the estate. U.K.

F10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F9 S. 699A inserted (with effect in accordance with s. 76(6) of the amending Act) by Finance Act 1995 (c. 4), s. 76(4)

F10 S. 699A 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. 208, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

700 Adjustments and information. U.K.

M1 (1) F11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) F11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) F11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) F12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F13 (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) F14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F15 (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 F16 . . . [F17 (aa)] above is deemed to have borne;

and, where an amount F18 . . . [F19 treated as estate income under that Chapter] is deemed for any of the purposes of F18 . . . [F20 that Chapter] to have borne tax on different parts of it at different applicable rates, the matters to be set out in pursuance of [F21 paragraphs [F22 (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.

[F23 (7) This section is to be read as if it were in Chapter 6 of Part 5 of ITTOIA 2005.]]

Textual Amendments

F11 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)

F12 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

F13 S. 700(5)(6) inserted (1.5.1995) by Finance Act 1995 (c. 4), Sch. 18 para. 6

F14 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)

F15 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)

F16 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)

F17 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)

F18 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)

F19 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)

F20 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)

F21 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)

F22 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)

F23 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

701 Interpretation. U.K.

F24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F24 S. 701 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. 210, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

702 Application to Scotland. U.K.

F25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F25 S. 702 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. 211, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)