Related Commentary  Related HMRC Manuals

636(1)  This section applies if–

(a)an individual who is entitled to securities dies, and

(b)the securities are transferred by the personal representatives to a legatee.

636(2)  If the securities are transferred in the interest period in which the death occurs, no payment is treated as made under this Chapter as a result of the transfer.

636(3)  If the securities are variable rate securities and the deceased dies after the end of the only or last interest period of the securities, no accrued income profits are treated as made under section 630(2).

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