2497.This section defines “UK estate” and “foreign estate” for the purposes of this Chapter. It is based on sections 699A and 701 of ICTA. The definitions in this section underpin the whole of this Chapter.
2498.Subsections (2), (3) and (5) contain the conditions which determine whether an estate is a UK estate for a tax year. A “foreign estate” is an estate which is not a “UK estate” for the tax year.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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