175 Basis of valuation of trading stock
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

175  Basis of valuation of trading stock

(1)     The value of trading stock belonging to the trade at the time of the cessation is determined as follows.

(2)     If the stock is sold to a person who—

(a)     carries on, or intends to carry on, a trade[, profession

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Enforcing a warrant of control

Enforcing a warrant of controlThis Practice Note has been produced by enforcement specialists, The Sheriffs Office. It guides users through the process of enforcing a warrant of control obtained from the County Court as a method of enforcing a money judgment; whereby the judgment creditor takes

LEXISNEXIS

Qualified one-way costs shifting (QOCS)

Qualified one-way costs shifting (QOCS)What is QOCS?Qualified one-way costs shifting (QOCS) was introduced on 1 April 2013 as part of the Jackson costs reforms following the removal of a claimant’s right to recover additional liabilities from the defendant, ie success fees and after the event (ATE)

LEXISNEXIS

Affray

AffrayAffray is an offence created by the Public Order Act 1986 (POA 1986). It can be tried in either the magistrates’ court or the Crown Court. The magistrates’ court may decline jurisdiction where for example in cases involving a weapon/throwing objects, or conduct that causes serious

LEXISNEXIS

Interim injunctions—the American Cyanamid guidelines

Interim injunctions—the American Cyanamid guidelinesThis Practice Note is concerned with substantive interim injunctions, which are a particular species of injunction granted on a temporary basis ahead of trial. As set out below, there are different considerations depending on whether the interim