Section 942 | Foreign estates

(1)In the case of a foreign estate, the charge to tax under section 934 is a charge on the amount of estate income treated as arising in the accounting period.^F1

(2)That amount depends on whether the estate income arising in the accounting period is paid from sums within section 963(3) or (4) (sums treated as bearing income tax).

(3)So far as the estate income is paid from such sums, that amount is the basic amount of that income for the accounting period grossed up by reference to the applicable rate ... (see section 946).^F2

(4)That gross amount is treated as having borne income tax by deduction at that rate.

(5)So far as the estate income is not paid from sums within section 963(3) or (4), the amount of estate income treated as arising in the accounting period is the basic amount of that income for that period.