There are currently no known outstanding effects for the Finance Act 2013, Paragraph 39.
39(1)Chapter 18 (post-cessation receipts) is amended as follows.U.K.
(2)In section 246 (basic meaning of “post-cessation receipt”), after subsection (2) insert—
“(2A)If, immediately before a person permanently ceases to carry on a trade, an election under section 25A (cash basis for small businesses) has effect in relation to the trade, a sum is to be treated as a post-cessation receipt only if it would have been brought into account in calculating the profits of the trade on the cash basis had it been received at that time.”
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 4 para. 39(3) omitted (with effect for the tax year 2024-25 and subsequent tax years) by virtue of Finance Act 2024 (c. 3), Sch. 10 paras. 46(a), 47 (with Sch. 10 paras. 48-50)
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