Corporation Tax Act 2009 (c. 4)

Part 11 U.K. Relief for particular employee share acquisition schemes

Chapter 1 U.K. Share incentive plans

Deductions and receipts: general U.K.

986 Treatment of receipts under Chapter U.K.

(1) This section applies if a company is treated under this Chapter as receiving an amount.

(2) If the company is carrying on a trade or property business in respect of which it is within the charge to corporation tax, the amount is treated as a receipt of that trade or business.

(3) If the company has permanently ceased to carry on a trade or property business in respect of which it was within the charge to corporation tax, the amount is treated as a post-cessation receipt of that trade or business (see Chapter 15 of Part 3).

(4) Otherwise, the amount is treated as a receipt chargeable under the charge to corporation tax on income.