Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 3 U.K. Property income

Chapter 12 U.K. Supplementary

362 Effect of company starting or ceasing to be within charge to income tax U.K.

(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.

Modifications etc. (not altering text)

C1 Ss. 353-368 modified (7.4.2005) by Finance Act 2005 (c. 7), s. 51(2)