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Chapter 12
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.

NOTES
Initial Commencement
Specified date

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 & Reliefs96 Property Taxes95 Company Law & Business Entities92 Trusts & Trustees95 Savings & Investment Income91 Equity & Trusts95 Companies & Corporate Bodies92 Property Income95 Income Tax95 Trading Income92 Real Property Law95 Administration & Collection of Income Tax99 International Tax96 Tax Law95 Personal Taxes95 Overseas Elements of Income Tax96

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