739Meaning of “proceeds of realisation”U.K.
This section has no associated Explanatory Notes
(1)In this Part “proceeds of realisation” of an asset means the amount recognised for accounting purposes as the proceeds of realisation, less the amount so recognised as incidental costs of realisation.
(2)The amounts referred to in subsection (1) are subject to any adjustments required by this Part or [F1Part 4 of TIOPA 2010] (provision not at arm's length).
Textual Amendments
F1Words in s. 739(2) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 145(1), (2) (with Sch. 9 paras. 1-9, 22)