Commentary on Sections Overview Overview Section 356: Application to Schedule A businesses
1427.This section deals with the case of a person who receives a sum that arises from a Schedule A business that was carried on before 2005-06. It is new.
1428.Subsection (1) sets out the general rule. The business from which a sum arises for the purpose of section 353 may be either a UK property business (as defined in this Act for 2005-06 and later years) or a Schedule A business. The Schedule A business may be one carried on by an income tax payer before 2005-06 or one carried on by a company.
1429.Subsection (2) deals with the case of a non-resident company liable to income tax. If a company ceases to be liable to corporation tax it is treated as ceasing to carry on its Schedule A business. A post-cessation from that business may be charged to income tax.