542. Calculating basic income: limited interest.

For the purposes of the relevant legislation1, income is treated as arising in a tax year2 or accounting period3 from a person's or company's limited interest4 in the whole or part of the residue of an estate in cases A, B and C and is treated as estate income5.

Case A is where the interest has not ceased before the beginning of the tax year or accounting period and a sum is paid6 in respect of the interest in that year or period and before the end of the administration period7.

Case B is where the tax year is the final