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362Effect of company starting or ceasing to be within charge to income tax

(1)    This section applies if a company starts or ceases to be within the charge to income tax under Chapter 3 of this Part in respect of a UK property business.

(2)    The company is treated for the purposes of this Part—

(a)    as starting to carry on the business when it starts to be within the charge, or

(b)    as permanently ceasing to carry on the business when it ceases to be within the charge.

NOTES
Initial Commencement
Specified date

This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Income Tax Allowances, Deductions & Reliefs96 Property Taxes95 Company Law & Business Entities91 Trusts & Trustees99 Savings & Investment Income91 Equity & Trusts99 Companies & Corporate Bodies91 Income Tax95 Property Income95 Trading Income93 Real Property Law95 Administration & Collection of Income Tax99 Tax Law95 Personal Taxes95

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