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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
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Particular topics: company winding up etc.: profits chargeable

CTA10/S627

Profits that arise in the winding-up of a company are chargeable to CT.  Assessment is on the company and not the liquidator.

CTA10/S633

This provision applies for final accounting periods ending on or after 1 July 1999.  A ‘final accounting period’ for this purpose is the accounting period that ends by reason of the completion of the winding up.

If, in the case of the company’s final accounting period, the company’s income consists of interest received or receivable under ICTA88/S826 (interest on tax overpaid) in an amount that does not exceed £2,000, that income is excluded from CT charge.