Section 256 Treatment of post-cessation receipts

United Kingdom

(1)

This section applies if—

(a)

an individual has permanently ceased to carry on a trade, and

(b)

the income arising to the individual from the trade was F1. . . relevant UK earnings within section 189(2)(b) of FA 2004.

(2)

Any post-cessation receipts arising to the individual from the trade are similarly . . . relevant UK earnings.

Annotations

F1: Words in s. 256(1)(b)(2) repealed (6.4.2007 with effect as noted in s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), ss. 1027, 1031, 1034, Sch. 1 para. 506(2)(3), Sch. 3 Pt. 1 (with transitional provisions and savings in Sch. 2)

C1: Pt. 2 Ch. 18 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 2(3)(a)