Statute
Section 156 — Corporation Tax Act 2009: Meaning of “trading stock”
Text of the provision Official document
Meaning of “trading stock” 156 1 In this Chapter “ trading stock ”, in relation to a trade, means anything (whether land or other property)—
a which is sold in the ordinary course of the trade, or b which would be so sold if it were mature or its manufacture, preparation or construction were complete.
2 It does not include—
a materials used in the manufacture, preparation or construction of any such thing, b any services performed in the ordinary course of the trade, or c any article produced, or any material used, in the performance of any such services.
Official source: legislation.gov.uk
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