Schedules

Schedule 2Estates in administration and trusts

Part 1Estates in administration

Chapter 2Corporation tax

8Income from stock dividends etc treated as bearing income tax at 0%

1

Chapter 3 of Part 10 of CTA 2009 (beneficiaries’ income from estates in administration) is amended as follows.

2

In section 936 (meaning of “UK estate” and “foreign estate”), in subsections (4) and (5), after “section 963(3)” insert “, (3A)”.

3

In section 963 of CTA 2009 (income treated as bearing income tax)—

a

in subsection (2), after “within subsection (3)” insert “, (3A)”;

b

in subsection (3), omit paragraph (b) (and the “or” immediately before it);

c

after subsection (3) insert—

3A

A sum that is part of the aggregate income of the estate because of falling within section 947(2)(c) (stock dividends) or (d) (release of loans to participator in close company: loans and advances to persons who die) is treated as bearing income tax at 0%.