For the latest New Development, see ND.2740.
Income tax
Until the net residue of the estate of a deceased person is ascertained by the realisation of all assets and the payment of all debts and taxes, the income of the estate is, at common law, that of the personal representatives (PRs) in their representative capacity.
In the case of a UK estate such income is therefore assessable income of the PRs in accordance with ITTOIA 2005, Pts 2–5 (ss 3–689A). Thus, if the deceased person was carrying on a business
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