Statute
Section 192 — Corporation Tax Act 2009: Debts paid after cessation
Text of the provision Official document
Debts paid after cessation 192 1 This section applies if, in calculating the profits of a trade for corporation or income tax purposes, a deduction is made in respect of a debt under—
a section 55 (bad debts), or b section 35 of ITTOIA 2005 (bad and doubtful debts), and a person permanently ceases to carry on the trade.
2 A sum received after the cessation is treated as a post-cessation receipt so far as the deduction is made.
Official source: legislation.gov.uk
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