Schedule 10, Part 2, paragraph 11

Sub-paragraph (2) applies, in the case of a Part 5 transfer of property consisting of the trading stock of a trade, for the purpose of computing any profits of the trade for tax purposes. If, because of the transfer, the trading stock is to be treated for that purpose as if it had been sold in the course of the trade, the amount realised on the sale is to be treated for that purpose as equal to its acquisition cost. Sub-paragraph (2) has effect in spite of anything in section 173 of ITTOIA 2005 or section 162 of the Corporation Tax Act 2009 (valuation of trading stock on cessation). In this paragraph, trading stock and trade have the same meaning as in section 174 of ITTOIA 2005 or (as the case may be) section 163 of the Corporation Tax Act 2009.

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Source: legislation.gov.uk · retrieved 2026-09-04