Income Tax (Trading and Other Income) Act 2005 section 354

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

Section 354 acts as a signposting provision, bringing together the various rules across the Act that determine whether certain amounts count as post-cessation receipts from a UK property business, or are excluded from the charge.

• Section 355 governs whether amounts are post-cessation receipts when rights are transferred to someone not carrying on a UK property business
• Several trading income rules (covering contributions to local enterprise organisations, distributions from mutual concerns, benefits from gifts, debts paid or released after cessation, and post-cessation expenditure receipts) also apply to UK property businesses as post-cessation receipt rules
• Section 310 excludes certain amounts from being post-cessation receipts where the right to receive them was transferred along with the property business
• Section 844 can treat previously unremittable overseas property business profits as post-cessation receipts once they become remittable after the business has ceased