Commentary on Sections Overview Overview Section 282: Basic meaning of “post-cessation receipt”
1007.This section defines post-cessation receipts of a UK property business. It is based on sections 103, 104 and 110 of ICTA, as applied by section 21B of ICTA. The corresponding rule for income tax is in section 353 of ITTOIA.
1008.Subsection (2) explains that a person permanently ceases to carry on a UK property business if:
	a company ceases to be within the charge to income tax in respect of the UK property business; or
	a company or any other person ceases to be a member of a firm which carries on a UK property business.