Part 2Income tax, corporation tax and capital gains tax_general
Other business and investment measures
37Trade profits: changes in trading stock
1
Schedule 15 contains provision about the effect of certain changes in trading stock on the calculation of profits of trades for the purposes of income tax or corporation tax.
2
The amendments made by that Schedule have effect in relation to changes in trading stock occurring on or after 12 March 2008.
3
In subsection (2) “change in trading stock” means—
a
in relation to new section 172B of ITTOIA 2005, or paragraph 6 of Schedule 15, an appropriation of trading stock,
b
in relation to new section 172C of ITTOIA 2005, or paragraph 7 of Schedule 15, a thing becoming trading stock,
c
in relation to new section 172D of ITTOIA 2005, or paragraph 8 of Schedule 15, a disposal of trading stock, and
d
in relation to new section 172E of ITTOIA 2005, or paragraph 9 of Schedule 15, an acquisition of trading stock.