Part 12 Beneficiaries' Income from Estates in Administration
Corporation Tax Act 2009 (2009 c 4) | Legislation

Part 12 Beneficiaries' Income from Estates in Administration

Basic amounts

103

(1)     Sub-paragraph (2) applies if any previous accounting period to which regard is to be had for the purposes of section 948 (assumed income entitlement) is an accounting period ending before 1 April 2009 (an “old accounting periodâ€).

(2)     In relation to the old accounting period, the reference in Step 4 in subsection (1) of that section to basic amounts relating to the person's absolute interest in respect of which the company was liable to corporation tax for that period is to be taken as a reference to the amount deemed to have been paid to that company as income for that period in respect of that interest by virtue of section 696 of ICTA.

(3)     Sub-paragraph (4) applies if one or more of the absolute interests referred to in section 954(1) (successive absolute interests) was held in one or more old accounting

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