C1Part 3Trading income
Chapter 15Post-cessation receipts
Charge to tax on post-cessation receipts
188Charge to tax on post-cessation receipts
The charge to corporation tax on income applies to post-cessation receipts arising from a trade.
189Extent of charge to tax
1
A post-cessation receipt is chargeable to tax under this Chapter only so far as it is not otherwise chargeable to corporation or income tax.
2
Accordingly, a post-cessation receipt arising from a trade is not chargeable to tax under this Chapter so far as it is brought into account in calculating the profits of the trade of any period.
3
A post-cessation receipt is not chargeable to tax under this Chapter if—
a
it is received by or on behalf of a non-UK resident company which is beneficially entitled to it, and
b
it represents income arising outside the United Kingdom.
4
A post-cessation receipt is not chargeable to tax under this Chapter if it arises from a trade carried on wholly outside the United Kingdom.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)