27 Individual investment plans of deceased investors
Finance Act 2016 (2016 c 24) | Legislation

27  Individual investment plans of deceased investors

(1)     In Chapter 3 of Part 6 of ITTOIA 2005 (power to exempt income from individual investment plans from income tax), after section 694 insert—

“694A Deceased investors

(1)     In section 694(1) “income of an individual from investments under a plan” includes—

(a)     income (of any person) from administration-period investments under a plan, and

(b)     income (of any person) from the estate of a deceased person (“D”) where the whole or any part of the income of D's personal representatives is income from administration-period investments under a plan.

(2)     For the purposes of sections 694(3)(a) and (4) and 695(1) “individual”, in relation to investments that are administration-period investments, includes—

(a)     the personal representatives of the deceased individual concerned, and

(b)     any other person on whose directions plan managers agree to act in relation to the investments.

(3)     In sections 699 and 701 “investor”

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