# Corporation Tax Act 2009, Section 986: Treatment of receipts under Chapter


(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.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/986 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-986
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.