Commentary on Sections Overview Overview
1001.This Chapter applies the rules about post-cessation receipts to UK property businesses, broadly as they apply to trades. The main rules for trades are in Chapter 15 of Part 3 of this Act. The application of the rules to property businesses is based on section 21B of ICTA, which specifically mentions sections 103 to 106 of ICTA.
1002.Although the post-cessation receipt rules apply to a Schedule A business, they do so by virtue of section 21B of ICTA. That section deals with “other rules applicable to Case I of Schedule D”. On the other hand, section 21A of ICTA deals with rules about the computation of profits of a trade. So section 70A of ICTA imports only the computation rules in section 21A and the post-cessation receipt rules do not apply to an overseas property business.
1003.A property business cannot have trading stock. So section 195 (transfer of trading stock) does not have a corresponding rule in this Chapter.
1004.The following trading income rules apply to property businesses but are not in separate sections in this Chapter:
	sections 192 and 193: rules about debts (these rules are applied by section 283(2)); and
	sections 196 and 197: allowable deductions (these rules are applied by section 285).