Corporation Tax Act 2009 section 283

Other rules about what counts as a "post-cessation receipt"

Section 283 acts as a guide to the various rules scattered throughout the Corporation Tax Act 2009 that determine whether certain amounts should or should not be treated as post-cessation receipts of a UK property business.

• Where the right to receive a post-cessation amount is transferred to someone who does not carry on a UK property business, specific rules determine whether the amount is or is not a post-cessation receipt
• Several trading income rules are applied (with references to "trade" read as references to a UK property business), treating items such as contributions to local enterprise organisations, distributions from mutual concerns, benefits received by charitable donors, and debts paid or released after cessation as post-cessation receipts
• If the right to receive a sum was transferred as part of the sale of a property business, that sum is not treated as a post-cessation receipt
• Overseas property business profits that become remittable after the company has stopped carrying on the business are treated as post-cessation receipts of a UK property business