Commentary

I4.541 The beneficiary's aggregate income of the estate

IHT, trusts and estates

I4.541 The beneficiary's aggregate income of the estate

I4.541 The beneficiary's aggregate income of the estate

The aggregate income of the estate for a tax year in relation to a beneficiary is the total of the following amounts arising from assets for payments of the debts of the deceased. It excludes income to which a beneficiary may become entitled under a specific disposition (see I4.546)1.

The amounts are as follows:

  1.  

    (a)     Income of the PRs charged to UK income tax for the tax year concerned after taking into account any allowable deductions. This does not include income taxed by deduction which is charged to tax under ITTOIA 2005, Pt

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial