While the personal representatives administer the estate the
income that they will usually receive is the income of the personal
representatives. They are liable to tax either at the basic rate,
savings rate (for years where this rate applies) or the dividend
rate depending on the type of income. It is not the income of the
beneficiaries.
Under the special tax rules in ITTOIA/Ss659 and 652
beneficiaries who have absolute interests in residue are deemed to
have received income from the estate. Different tax rules apply
for
Within each of these categories there are different rules for payments made during and on completion of the administration period. You need to know therefore whether the administration has been completed.
