Section 189 Extent of charge to tax
United Kingdom
A post-cessation receipt is chargeable to tax under this Chapter only so far as it is not otherwise chargeable to corporation or income tax.
Accordingly, a post-cessation receipt arising from a trade is not chargeable to tax under this Chapter so far as it is brought into account in calculating the profits of the trade of any period.
A post-cessation receipt is not chargeable to tax under this Chapter if—
it is received by or on behalf of a non-UK resident company which is beneficially entitled to it, and
it represents income arising outside the United Kingdom.
A post-cessation receipt is not chargeable to tax under this Chapter if it arises from a trade carried on wholly outside the United Kingdom F1other than a company's trade of dealing in or developing UK land.
Annotations
Textual amendments
- F1
Words in s. 189(4) inserted (with effect in accordance with s. 81 of the amending Act) by Finance Act 2016 (c. 24), s. 76(9) (and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2))
Notes on Part 3
Modifications
- C1
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)
Notes on Chapter 15
Modifications
- C1
Pt. 3 Ch. 15 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 2(3)(b)