986Treatment of receipts under ChapterU.K.
This section has no associated Explanatory Notes
(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.