Part 5

Miscellaneous income
Chapter 6

Beneficiaries' income from estates in administration

Income charged and person liable

Income charged: foreign estates
657
1
In the case of a foreign estate, the charge to tax under section 649 is a charge on the full amount of estate income treated as arising in the tax year.
2
That amount depends on whether the estate income arising in the tax year is paid from sums within section 680(4) (sums treated as bearing income tax).
3
So far as the estate income is paid from such sums, that amount is the basic amount of that income for the tax year grossed up by reference to the applicable rate ... (see section 663).
4
That gross amount is treated as having borne income tax at that rate.
5
So far as the estate income is not paid from sums within section 680(4), the amount of estate income treated as arising in the tax year is the basic amount of that income for that year.
Word in s. 657 substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 21
Words in s. 657(3) omitted (6.4.2023 in relation to the tax year 2023-24 and subsequent tax years) by virtue of Finance Act 2023 (c. 30), Sch. 2 paras. 1(3), 14(2)(a)
Words in s. 657(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(4), 14(3)(a)