Part 3Trading income

Chapter 1Introduction

34Overview of Part

1

This Part applies the charge to corporation tax on income to—

a

the profits of a trade (see Chapter 2), and

b

post-cessation receipts arising from a trade (see Chapter 15).

2

Chapters 3 to 14 contain rules relevant to tax under this Part.

3

Chapter 16 contains rules that give priority to provisions outside this Part in relation to certain matters that fall within it.

4

This Part needs to be read with Parts 19 (general exemptions) and 20 (general calculation rules).