Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 5: Miscellaneous income

Chapter 6: Beneficiaries’ income from estates in administration
Section 659: Person liable

2517.This section states who is liable for any tax charged under section 649. It is based on sections 695, 696 and 698 of ICTA.

2518.The person who is liable will very much depend on the nature of the interest held by the beneficiary. The various interests are set out in the section together with the person liable for each of those interests.