Part 11Relocation of section 151 of FA 1989
Taxes Management Act 1970 (c. 9)
57TMA 1970 is amended as follows.
58After section 30A insert—
“30AAAssessing income tax on trustees and personal representatives
(1)Income tax charged on income arising to trustees of a settlement may be assessed and charged on, and in the name of, any one or more of the assessable trustees.
(2)Income tax charged on income arising to the personal representatives of a deceased person may be assessed and charged on, and in the name of, any one or more of the assessable representatives.
(3)In subsection (1) “the assessable trustees” means—
(a)the trustees of the settlement in the tax year in which the income arises, and
(b)any subsequent trustees of the settlement.
(4)In subsection (2) “the assessable representatives” means—
(a)the persons who, in the tax year in which the income arises, are personal representatives of the deceased person, and
(b)any subsequent personal representatives of the deceased person.”
Finance Act 1989 (c. 26)
59FA 1989 is amended as follows.
60Omit section 151 (assessment of trustees and personal representatives).
Income Tax (Trading and Other Income) Act 2005 (c. 5)
61ITTOIA 2005 is amended as follows.
62In Schedule 2 (transitionals and savings etc) omit paragraph 91 (interpretation of section 151(2) of FA 1989).