955(1)  This section applies if–

(a)two or more interests in the whole or part of the residue of an estate are held successively during the administration period by different persons,

(b)each later interest arises or is created on the cessation of the previous interest otherwise than by death,

(c)at least one of the interests is an absolute interest, and

(d)at least one of the interests preceding that interest is a limited interest.

955(2)  Rules A and B apply to determine in relation to such an absolute interest–

(a)whether the company with the interest has an assumed income entitlement in respect of the interest, and

(b)if so, its amount.

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