3.2 Taxation - Income Tax

Question 1

Who must pay income tax?

Answer 1

Testator’s behalf

• PRs
• Subject to personal allowance (full year)

Trust fund
- Trustees

Chargeable transfer

• Transferee (income tax paid 12 months after death)
• PRs (income tax NOT paid 12 months after death)

Gift to charity
- No one > EXEMPT