Taxes Consolidation Act 1997 section 1049

Receivers appointed by court

Section 1049 sets out the tax obligations of a receiver appointed by a court over property, requiring the receiver to account for income tax or corporation tax as if the property were not under court control.

• A court-appointed receiver over property is assessable and chargeable to income tax or corporation tax in the same manner and amount as if the property were not under the direction and control of the court.
• The receiver steps into the shoes of the property owner for tax purposes, meaning the court appointment does not alter the basis on which the property is taxed.
• The receiver is personally answerable for all obligations under the Tax Acts, including filing returns and paying any tax due in respect of the property.
• The appointment of a receiver does not change the legal ownership of the assets; however, the receiver has effective control over the trade or rental activities associated with those assets.