Supplementary361Changes in trustees and personal representatives
(1) This section applies if there is a change—
(a) in the trustees of a trust, or
(b) in the personal representatives of a person,
at a time when they are carrying on a property business.
(2) For income tax purposes, the change does not result in—
(a) any of the trustees or personal representatives before the change permanently ceasing to carry on the business, or
(b) any of the trustees or personal representatives after the change starting to carry on the business.
This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Income Tax Allowances, Deductions & Reliefs96Property Taxes95Company Law & Business Entities92Trusts & Trustees95Savings & Investment Income91Equity & Trusts95Companies & Corporate Bodies92Property Income95Income Tax95Trading Income92Real Property Law95Administration & Collection of Income Tax99International Tax96Tax Law95Personal Taxes95Overseas Elements of Income Tax96