Commentary on Sections Part 10: Miscellaneous income Overview Section 950: Shares of residuary income of estate
2395.This section explains the rules for determining the share of residuary income treated as arising from a company’s absolute interest in the whole or part of the residue of an estate. It is based on section 696(2) and (8) of ICTA. The corresponding rule for income tax is in section 667 of ITTOIA.