SCHEDULES

SCHEDULE 28AA Provision not at arm’s length

Application of paragraph 6 in relation to transfers of trading stock etc

6A

(1)

Paragraph 6(2)(a) above does not affect the credits to be brought into account by the disadvantaged person in respect of—

(a)

closing trading stock, or

(b)

closing work in progress in a trade,

for accounting periods ending on or after the last day of the relevant accounting period of the advantaged person.

(2)

For the purposes of sub-paragraph (1) above, the relevant accounting period of the advantaged person is the accounting period in which the actual provision was made or imposed.

(3)

For the purposes of this paragraph “trading stock”, in relation to any trade, has F1the meaning given by section 174 of ITTOIA 2005 or section 163 of CTA 2009.