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Income Tax (Trading and Other Income) Act 2005

Section 251: Transfer of rights if transferee does not carry on trade

1001.This section deals with the position of the transferor if the right to a post-cessation receipt is transferred for value to a non-trading transferee. It is based on section 106 of ICTA.

1002.The transferor is charged to tax on the amount received for the transfer if the transfer is at arm’s length. Otherwise the transferor is charged to tax on the arm’s length value of the transfer. There is no later charge to tax on the transferee when the post-cessation receipt is received.

1003.Section 98 of this Act sets out the position if the transfer is to a trading transferee.

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