# Corporation Tax Act 2009, Section 192: Debts paid after cessation


(1) This section applies if, in calculating the profits of a trade for corporation or income tax purposes, a deduction is made in respect of a debt under—
(a) section 55 (bad debts), or
(b) section 35 of ITTOIA 2005 (bad and doubtful debts),
and a person permanently ceases to carry on the trade.
(2) A sum received after the cessation is treated as a post-cessation receipt so far as the deduction is made.

---
Source: https://www.legislation.gov.uk/ukpga/2009/4/section/192 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-192
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.