Statute
Section 940 — Corporation Tax Act 2009: Discretionary interests in residue
Text of the provision Official document
Discretionary interests in residue 940 1 Income is treated as arising in an accounting period from a company's discretionary interest in the whole or part of the residue of an estate if a payment is made in the accounting period in exercise of the discretion in the company's favour.
2 Income treated as arising as a result of this section is estate income for the purposes of this Chapter.
Official source: legislation.gov.uk
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