(1)In this Chapter “post-cessation receipt” means a sum—
(a)which is received after a person permanently ceases to carry on a UK property business, and
(b)which arises from the carrying on of the business before the cessation.
(2)Subsection (3) applies if—
(a)a firm carries on a UK property business,
(b)a person ceases to be a partner in the firm, and
(c)at least one of the persons with whom the partner carried on the business before ceasing to be a partner continues to carry it on afterwards.
(3)The partner is treated for the purposes of this Chapter as permanently ceasing to carry on the business.