Part 3

Trading income
Chapter 2

Income taxed as trade profits

Starting and ceasing to trade

Effect of company starting or ceasing to be within charge to corporation tax
41
1
This section applies if a company starts or ceases to be within the charge to corporation tax in respect of a trade.
2
The company is treated for the purposes of this Part—
a
as starting to carry on the trade when it starts to be within the charge, or
b
as ceasing to carry on the trade when it ceases to be within the charge.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)