Income Tax (Trading and Other Income) Act 2005 section 673

Successive interests: payments in respect of limited interests followed by absolute interests

Section 673 deals with how payments relating to an earlier limited interest are treated for tax purposes when that limited interest has been succeeded by an absolute interest in the residue of an estate during the administration period.

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.