Part 2Trading income
Chapter 12Trade profits: valuation of stock and work in progress on cessation of trade
Valuation of trading stock
180Cost to buyer of stock valued on sale basis of valuation
(1)
This section applies for the purpose of calculating the profits of the tradeF1, profession or vocation carried on by the buyer of trading stock.
(2)
If the value of the stock is determined in accordance with—
(a)
section 175(3) or sections 176 to 178 (sale basis of valuation), or
(b)
F2section 164(3) or sections 165 to 167 of CTA 2009 (corresponding corporation tax rules),
the cost of the stock to the buyer is taken to be the value as so determined.