Corporation Tax Act 2009

939 Limited interests in residue

(1) Income is treated as arising in an accounting period from a company’s limited interest in the whole or part of the residue of an estate in cases A, B and C.

(2) Case A is where—

(a) the interest has not ceased before the beginning of the accounting period, and

(b) a sum is paid in respect of the interest in that period and before the end of the administration period.

(3) Case B is where—

(a) the accounting period is the final accounting period,

(b) the interest has not ceased before the beginning of that period, and

(c) a sum remains payable in respect of the interest at the end of the administration period.

(4) Case C is where—

(a) the accounting period is a period before the final accounting period,

(b) the interest ceases in the accounting period, and

(c) a sum is paid in respect of the interest in a later accounting period but before the end of the administration period, or remains payable in respect of it at the end of the administration period.

(5) This section does not apply to limited interests to which section 957 (successive interests: holders of limited interests) applies.

(6) Income treated as arising as a result of this section or section 957 is estate income for the purposes of this Chapter.