Corporation Tax Act 2009 (c. 4)

Part 3 U.K. Trading income

Modifications etc. (not altering text)

C1 Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)

Chapter 15 U.K. Post-cessation receipts

Modifications etc. (not altering text)

C2 Pt. 3 Ch. 15 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 2(3)(b)

Meaning of “post-cessation receipts” U.K.

191 Other rules about what counts as post-cessation receipts U.K.

(1) The following provisions treat certain amounts as post-cessation receipts for the purposes of this Part—

• section 82(6) (contributions to local enterprise organisations or urban regeneration companies),

• section 101(3) (distribution of assets of mutual concerns),

• section 108(3) (receipt of benefits by donor or connected person),

• section 192 (debts paid after cessation),

• section 193 (debts released after cessation), as qualified, where appropriate, by section 56(4) (car F1 ... hire),

• section 194 (transfer of rights if transferee does not carry on trade), and

• section 1277 (income charged on withdrawal of relief after source ceases: unremittable income).

(2) Section 95 (acquisition of trade: receipts from transferor's trade) and section 194 (transfer of rights if transferee does not carry on trade) treat certain amounts as not being post-cessation receipts for the purposes of this Part.

Textual Amendments

F1 Words in s. 191(1) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the commencing Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 51