Part 2Trading income
Chapter 2Income taxed as trade profits
Starting and ceasing to trade
18Effect of company starting or ceasing to be within charge to income tax
1
This section applies if a company starts or ceases to be within the charge to income tax under this Chapter in respect of a trade.
2
The company is treated for the purposes of this Part—
a
as starting to carry on the trade when it starts to be within the charge, or
b
as permanently ceasing to carry on the trade when it ceases to be within the charge.