Commentary on Sections Overview Chapter 3: Amounts treated as expenses of management Overview
3126.The following 13 sections are equivalent to trading income sections.
3127.Generally there are no timing rules in the sections. So a deduction is made in the accounting period to which it is “referable” in accordance with section 1224. There are two exceptions: sections 1240(4) and 1242(4) require the deduction for a redundancy payment to be made in the final accounting period of the business if the payment is made after the business has ceased.