Statute
Section 172C — Finance Act 2008: Trading stock supplied by trader
Text of the provision Official document
Trading stock supplied by trader 172C 1 This section applies if something that—
a belongs to a person carrying on a trade, but b is not trading stock of the trade, becomes trading stock of the trade.
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 it became trading stock of the trade, 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 it became trading stock of the trade.
Official source: legislation.gov.uk
There are no decisions in our collection citing this provision yet. As new judgments are published, they will appear here.
Search case law on this topic
See judgments from UK courts and tribunals with a plain-English summary and legal holding.
Explore case law →