Related Commentary  Related CasesRelated HMRC Manuals

96(1)  A person may make a claim for post-cessation trade relief if, after permanently ceasing to carry on a trade–

(a)the person makes a qualifying payment, or

(b)a qualifying event occurs in relation to a debt owed to the person,

and the payment is made, or the event occurs, within 7 years of that cessation.

96(2)  If the claim is made in respect of a payment, the claim is for the payment to be deducted in calculating the person's net income for the tax year in which the payment is made (see Step 2 of the calculation in section 23).

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