Taxation (International and Other Provisions) Act 2010

Part 11 Relocation of section 151 of FA 1989

Taxes Management Act 1970 (c. 9)

57 TMA 1970 is amended as follows.

58 After section 30A insert—

“30AA Assessing income tax on trustees and personal representatives

(1) Income tax charged on income arising to trustees of a settlement may be assessed and charged on, and in the name of, any one or more of the assessable trustees.

(2) Income tax charged on income arising to the personal representatives of a deceased person may be assessed and charged on, and in the name of, any one or more of the assessable representatives.

(3) In subsection (1) “the assessable trustees” means—

(a) the trustees of the settlement in the tax year in which the income arises, and

(b) any subsequent trustees of the settlement.

(4) In subsection (2) “the assessable representatives” means—

(a) the persons who, in the tax year in which the income arises, are personal representatives of the deceased person, and

(b) any subsequent personal representatives of the deceased person.”

Finance Act 1989 (c. 26)

59 FA 1989 is amended as follows.

60 Omit section 151 (assessment of trustees and personal representatives).

Income Tax (Trading and Other Income) Act 2005 (c. 5)

61 ITTOIA 2005 is amended as follows.

62 In Schedule 2 (transitionals and savings etc) omit paragraph 91 (interpretation of section 151(2) of FA 1989).