{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-98",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-98.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/98",
  "kind": "section",
  "number": "98",
  "heading": "Acquisition of trade: receipts from transferor's trade",
  "text": "(1) This section applies if —\n(a) a person (“the transferor”) permanently ceased to carry on a trade at any time,\n(b) at that time the transferor transferred to another person (“the transferee”) the right to receive sums arising from the carrying on of the trade, and\n(c) the transferee subsequently carries on the transferor's trade.\n(2) Sums—\n(a) which the transferee receives as a result of the transfer, and\n(b) which are not brought into account in calculating the profits of the transferor's trade for income or corporation tax purposes for any period before the cessation,\nare brought into account in calculating the profits of the transferee's trade in the period of account in which they are received.\n(3) Any sums mentioned in subsection (1)(b) which are received after the transferor has permanently ceased to carry on the trade are not post-cessation receipts (see Chapter 18).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/98",
    "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."
}