{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-247",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-247.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/247",
  "kind": "section",
  "number": "247",
  "heading": "Other rules about what counts as post-cessation receipts",
  "text": "(1) The following provisions treat certain amounts as post-cessation receipts for the purposes of this Part—\nsection 82(6) (contributions to local enterprise organisations or urban regeneration companies),\nsection 104(3) (distribution of assets of mutual concerns),\nsection 109(2) (receipt by donor or connected person of benefit attributable to certain gifts),\nsection 185(1) (election for valuation at cost),\nsection 248 (debts paid after cessation),\nsection 249 (debts released after cessation), as qualified, where appropriate, by section 48(4) (car ... hire),\nsection 250 (receipts relating to post-cessation expenditure),\nsection 251 (transfer of rights if transferee does not carry on trade), and\nsection 844 (income charged on withdrawal of relief after source ceases: unremittable income).\n(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.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/247",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}