Part 3Trading income
Chapter 2Income taxed as trade profits
Starting and ceasing to trade
41Effect of company starting or ceasing to be within charge to corporation tax
(1)
This section applies if a company starts or ceases to be within the charge to corporation tax 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 ceasing to carry on the trade when it ceases to be within the charge.