Part 2

Trading income
Chapter 18

Post-cessation receipts

Meaning of “post-cessation receipts”

Other rules about what counts as post-cessation receipts
247
1
The following provisions treat certain amounts as post-cessation receipts for the purposes of this Part—
- section 82(6) (contributions to local enterprise organisations or urban regeneration companies),
- section 104(3) (distribution of assets of mutual concerns),
- section 109(2) (receipt by donor or connected person of benefit attributable to certain gifts),
- section 185(1) (election for valuation at cost),
- section 248 (debts paid after cessation),
- section 249 (debts released after cessation), as qualified, where appropriate, by section 48(4) (car ... hire),
- section 250 (receipts relating to post-cessation expenditure),
- section 251 (transfer of rights if transferee does not carry on trade), and
- section 844 (income charged on withdrawal of relief after source ceases: unremittable income).
2
Section 98 (acquisition of trade: receipts from transferor's trade) and section 251 (transfer of rights if transferee does not carry on trade) treat certain amounts as not being post-cessation receipts for the purposes of this Part.
Pt. 2 Ch. 18 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 2(3)(a)
Words in s. 247(1) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 40