# Income Tax (Trading and Other Income) Act 2005, Section 655: Estate income: discretionary interests in residue


(1) Income is treated as arising in a tax year from a person's discretionary interest in the whole or part of the residue of an estate if a payment is made in the tax year in exercise of the discretion in that person's favour.
(2) Income treated as arising as a result of this section is estate income for the purposes of this Chapter.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/655 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-655
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.