Part 3Property income
Chapter 12Supplementary
362Effect 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 Chapter 3 of this Part in respect of a UK property business.
(2)
The company is treated for the purposes of this Part—
(a)
as starting to carry on the business when it starts to be within the charge, or
(b)
as permanently ceasing to carry on the business when it ceases to be within the charge.