C1Part 3Trading income

Annotations:
Modifications etc. (not altering text)

C2Chapter 15Post-cessation receipts

Annotations:
Modifications etc. (not altering text)
C2

Pt. 3 Ch. 15 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 2(3)(b)

Election to carry back

198Election to carry back

1

This section applies if a post-cessation receipt is received by a company in an accounting period beginning not later than 6 years after the company permanently ceased to carry on the trade.

2

The company may elect that the tax chargeable in respect of the receipt is to be charged as if the receipt had been received on the date of the cessation (but see sections 199 and 200).

3

The election must be made before the end of the period of two years beginning immediately after the end of the accounting period in which the receipt is received.