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HMRC internal manual

Business Income Manual

Measuring the profits (particular trades): Moneylenders: cessation

When a moneylender’s trade ceases for tax purposes is a question of fact. In some circumstances, after the trade has ceased, a former moneylender may receive cash from the business that has not been taken into account in the final accounts of the business. Where this happens, the receipts, to the extent they represent interest on loans made before the business ceased, do not fall to be dealt with under the post cessation receipts rules because the sums are otherwise chargeable to tax, as interest.