Section 49A — Corporation Tax Act 2009: Money's worth

Money's worth 49A 1 Subsection (2) applies—

a for the purpose of bringing into account an amount arising in respect of a transaction involving money's worth entered into in the course of a trade, and b if an amount at least equal to the amount that would be brought into account under that subsection is not otherwise brought into account as a receipt in calculating the profits of a trade under a provision of this Part other than a provision mentioned in subsection (3).

2 For the purpose of calculating the profits of the trade, an amount equal to the value of the money's worth is brought into account as a receipt if, had the transaction involved money, an amount would have been brought into account as a receipt in respect of it.

3 But where another provision of this Part makes express provision for the bringing into account of an amount in respect of money's worth as a receipt in calculating the profits of a trade (however expressed), that other provision applies instead of subsection (2).