Part 2 U.K. Trading income

Chapter 18 U.K. Post-cessation receipts

Charge to tax on post-cessation receipts U.K.

244 Income charged U.K.

(1) Tax is charged under this Chapter on the full amount of the receipts received in the tax year.

(2) This is subject to—

(a) sections 254 and 255 (allowable deductions), and

(b) section 257 (election to carry back).