337 Company beginning or ceasing to carry on tradeU.K.
(1)Where a company begins or ceases—
(a)to carry on a trade, or
(b)to be within the charge to corporation tax in respect of a trade,
the company’s income shall be computed as if that were the commencement or, as the case may be, the discontinuance of the trade, whether or not the trade is in fact commenced or discontinued.
(2)Subsection (1) applies to a Schedule A business or overseas property business as it applies to a trade.