Valid from 01/04/2009
940Discretionary interests in residueU.K.
This section has no associated Explanatory Notes
(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.