Section 189 | Extent of charge to tax

(1)A post-cessation receipt is chargeable to tax under this Chapter only so far as it is not otherwise chargeable to corporation or income tax.

(2)Accordingly, a post-cessation receipt arising from a trade is not chargeable to tax under this Chapter so far as it is brought into account in calculating the profits of the trade of any period.

(3)A post-cessation receipt is not chargeable to tax under this Chapter if—

(a)it is received by or on behalf of a non-UK resident company which is beneficially entitled to it, and

(b)it represents income arising outside the United Kingdom.

(4)A post-cessation receipt is not chargeable to tax under this Chapter if it arises from a trade carried on wholly outside the United Kingdom other than a company's trade of dealing in or developing UK land.