Commentary on Sections Part 10: Miscellaneous income Overview Section 942: Foreign estates
2371.This section sets out the amount charged to tax under section 934 for income from foreign estates. It is based on sections 695(4), 696(6) and 698(3) of ICTA. The corresponding rule for income tax is in section 657 of ITTOIA.
2372.Subsection (5) provides that, so far as the income is not within section 963, the charge is on the basic amount of that income. Where the income is within section 963, the charge is on the gross amount of the income calculated in accordance with section 946.