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.
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 & Reliefs96Property Taxes95Company Law & Business Entities91Trusts & Trustees99Savings & Investment Income91Equity & Trusts99Companies & Corporate Bodies91Income Tax95Property Income95Trading Income93Real Property Law95Administration & Collection of Income Tax99Tax Law95Personal Taxes95