2398.This section sets out the calculation of the applicable rate for the purposes of calculating income tax to be deducted from the residuary income at step 2 of section 948(1). The section is based on section 701(3A) of ICTA. The corresponding rule for income tax is in section 670 of ITTOIA.
Commentary on Sections Part 10: Miscellaneous income Overview Section 952: Applicable rate for determining assumed income entitlement (UK estates)