Part 5

Miscellaneous income
Chapter 6

Beneficiaries' income from estates in administration

Income charged and person liable

Income charged: UK estates
656
1
In the case of a UK estate, the charge to tax under section 649 is a charge on the amount of estate income treated as arising in the tax year.
2
That amount is the basic amount of that income for the tax year (see subsection (4)) grossed up by reference to the applicable rate ... (see section 663).
3
The gross amount is treated as having borne income tax at that rate.
4
In this Chapter “the basic amount”, in relation to estate income, has the meaning given by—
a
section 660 (basic amount of estate income: absolute interests),
b
section 661 (basic amount of estate income: limited interests),
c
section 662 (basic amount of estate income: discretionary interests), and
d
section 675 (basic amount of estate income: successive limited interests).
Words in s. 656(2) omitted (6.4.2023 in relation to the tax year 2023-24 and subsequent tax years) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 2 paras. 1(2), 14(2)(a)
Words in s. 656(1) substituted (6.4.2024 in relation to the tax year 2024-25 and subsequent tax years) by Finance (No. 2) Act 2023 (c. 30), Sch. 2 paras. 11(3), 14(3)(a)