Part 10 U.K. Miscellaneous income

Chapter 3 U.K. Beneficiaries' income from estates in administration

Valid from 01/04/2009

Types of estate income U.K.

940 Discretionary interests in residue U.K.

(1) Income is treated as arising in an accounting period from a company's discretionary interest in the whole or part of the residue of an estate if a payment is made in the accounting period in exercise of the discretion in the company's favour.

(2) Income treated as arising as a result of this section is estate income for the purposes of this Chapter.