Section 934 — Corporation Tax Act 2009: Charge to tax on estate income

Charge to tax on estate income 934 1 The charge to corporation tax on income applies to estate income. 1A But corporation tax is not charged on estate income so far as that income consists of a basic amount which section 962 treats as having been paid from de minimis aggregate income. 1B In subsection (1A) , “ de minimis aggregate income ” means aggregate income of an estate which is treated as bearing income tax at 0% because of section 963 (1A) .

2 In this Chapter— “ estate ” means the estate of a deceased person (whether a UK estate or a foreign estate), and “ estate income ” means the income treated under this Chapter as arising from an absolute, limited or discretionary interest in the whole or part of the residue of an estate.

3 If different parts of an estate are subject to different residuary dispositions, those parts are treated for the purposes of this Chapter as if they were separate estates.