Commentary

I4.542 Income payments to beneficiaries during the administration period

IHT, trusts and estates

I4.542 Income payments to beneficiaries during the administration period

I4.542 Income payments to beneficiaries during the administration period

During the administration period1, income arising from the assets of the estate is in the first place assessable on the personal representatives (see I4.534).

However, if the income is paid to a person who, under the terms of the Will, is entitled to an interest in it (a beneficiary), it will be assessable as estate income of that person. In the case of a UK estate it is deemed to have suffered tax (see I4.544) and must be included in his self-assessment return.

For this purpose, a sum is paid:

  1.  

    (a)     where

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