Corporation Tax Act 2009 section 958

Basic amount of estate income: successive limited interests

Section 958 explains how to calculate the basic amount of estate income where a company holds a successive limited interest in an estate that is being administered.

• This section applies specifically to successive limited interests, where one limited interest follows another in the same estate.
• The basic amount of estate income for an accounting period is calculated by adding together the relevant sums identified under section 957.
• The sums to be totalled are those arising under section 957(3)(b), section 957(4)(c), and section 957(5)(c) for the accounting period in question.
• This section mirrors the approach used in section 944 for limited interests that are not successive, but applies the calculation to the specific circumstances of successive interests.