Income Tax (Trading and Other Income) Act 2005 section 240

Liability of personal representatives if person liable dies

Section 240 deals with what happens to the tax liability on adjustment income when the person who would have owed that tax dies, transferring both the obligation and the right to make elections to their personal representatives.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.