B2.806 Sums That Are Not Post-Cessation Receipts

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Commentary

Business tax

Where a person permanently discontinues a trade, any sum arising from the transfer of trading stock¹ or, in the case of a profession or vocation, work-in-progress² is not a post-cessation receipt provided the valuation of the stock or work-in-progress is calculated in accordance with specific provisions³ set out in the tax legislation⁴.

For

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I7.333A Companies and replacement APR property

I9.421 Situs of simple contract debts for IHT

B4.130 Summary of OECD guidelines on arm's length principle

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