Corporation Tax Act 2009 (c. 4)

Part 10 U.K. Miscellaneous income

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

Basic amount of estate income: general calculations rules U.K.

[F1 946 Applicable rate for grossing up basic amounts of estate income U.K.

(1) The applicable rate by reference to which a basic amount of estate income is grossed up for the purposes of sections 941 and 942 depends on the rate at which income tax was borne by the parts of the aggregate income of the estate from which section 962 treats the basic amount as having been paid.

(2) If the same rate was borne by all of the income from which section 962 treats the basic amount as having been paid, the applicable rate is that rate.

(3) If different rates were borne by different parts of the income from which section 962 treats the basic amount as having been paid, each of those rates is the applicable rate by reference to which the corresponding part of the basic amount is grossed up.]

Textual Amendments

F1 S. 946 substituted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 2 paras. 6(4), 14(2)(b)