Section 160 — Corporation Tax Act 2009: Acquisitions not made in the course of trade

Acquisitions not made in the course of trade 160 1 This section applies if—

a trading stock of a trade has been acquired otherwise than in the course of the trade, and b section 158 does not apply.

2 In calculating the profits of the trade—

a the cost of the stock is taken to be the amount which it would have realised if sold in the open market at the time of the acquisition, and b the value of anything in fact given for it is left out of account.

3 The cost is treated as being incurred on the date of the acquisition.

4 This section is subject to section 161.