SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 2Other enactments
Taxation of Chargeable Gains Act 1992 (c. 12)
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In section 161 (stock in trade: appropriations to and from stock) after subsection (4) insert—
5
If—
a
any person is charged to income tax under section 755 of ITA 2007 (charge to tax from transactions in land) on the realisation of a gain because the condition in section 756(3)(d) is met, and
b
the gain is calculated on the basis that any property was appropriated as trading stock,
the property shall be treated on that basis also for the purposes of this section.