Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 2 U.K. Trading income

Chapter 18 U.K. Post-cessation receipts

Modifications etc. (not altering text)

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

Sums that are not post-cessation receipts U.K.

253 Lump sums paid to personal representatives for copyright etc. U.K.

(1) A lump sum which is paid to the personal representatives of the author of a literary, dramatic, musical or artistic work as consideration for the assignment by them of—

(a) the copyright in the work, or

(b) the public lending right in the work,

is not a post-cessation receipt.

(2) A lump sum which is paid to the personal representatives of the designer of a design in which design right subsists as consideration for the assignment by them of that right is not a post-cessation receipt.

(3) For the purposes of this section it does not matter whether the whole or a part of the right is assigned.