Section 937 — Corporation Tax Act 2009: Absolute interests in residue

Absolute interests in residue 937 1 Income is treated as arising in an accounting period from a company's absolute interest in the whole or part of the residue of an estate if—

a the company has an assumed income entitlement for the accounting period in respect of the interest (see sections 948 to 952),

and b condition A or B is met.

2 Condition A is that a payment is made in respect of the interest in the accounting period and before the end of the administration period (see section 938).

3 Condition B is that the accounting period is the final accounting period (see section 938).

4 Income treated as arising as a result of this section is estate income for the purposes of this Chapter.