Part 3Trading income
Chapter 15Post-cessation receipts
Deductions
197Further rules about allowable deductions
(1)
An amount may not be deducted more than once under section 196.
(2)
A deduction under that section of a loss must be made from post-cessation receipts charged for an earlier accounting period in preference to those charged for a later accounting period.
(3)
But this does not authorise the deduction of a loss from post-cessation receipts charged for an accounting period before the accounting period in which the loss is made.