During the administration period1, income arising from the assets of the estate is in the first place assessable on the personal representatives (see I4.534) subject to the de minimis estates amount for 2024/25 onwards by which an estate with income of £500 or less for a tax year is treated as having no assessable income (see I4.539).
However, if the income is paid to a person who, under the terms of the Will, is entitled to an interest in it (a beneficiary), it will be assessable
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