Part 10

Miscellaneous income
Chapter 3

Beneficiaries' income from estates in administration

Successive interests

Introduction
953
1
Sections 954 to 959 relate to cases where two or more interests in the whole or part of the residue of an estate are held successively during the administration period by different persons.
2
For the purposes of this section and those sections, two interests are held successively even where one is not held immediately before or after the other.
3
It is assumed for the purposes of those sections—
a
that each of the persons holding the interests in question is a company within the charge to corporation tax (but without prejudice to the references to interests ceasing otherwise than by death), and
b
that in the case of a person who is not a company the person's accounting periods correspond with tax years.