669 Reduction in residuary income: inheritance tax on accrued income
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

669  Reduction in residuary income: inheritance tax on accrued income

(1)     This section applies if on the death of a person (“D”) income which accrued before D's death (“pre-death income”) is taken into account both—

(a)     in determining the value of D's estate for the purposes of inheritance tax charged on D's death, and

(b)     in calculating the residuary income of D's estate for a tax year.

(2)     A reduction is made in the residuary income of D's estate for that tax year in ascertaining the extra liability, if any, of a person with an absolute interest in the whole or part of the residue of D's estate or any other estate to which that

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