S242-S244 Income Tax (Trading and Other Income) Act 2005 (ITTOIA 2005), S188-S189 Corporation Tax Act 2009

Imposes a tax charge on post-cessation trading receipts that would otherwise not be subject to Income Tax or Corporation Tax

The legislation imposes a charge to Income Tax or Corporation Tax (as appropriate) on the receipt of certain income received after the trade has ceased (or treated for tax purposes as having ceased).

This is subject to the rules on the territorial scope of the provisions (see BIM90015).

For details of the person liable to tax on the post-cessation receipt, see BIM90020.

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