71 Trade and property business profits: money's worth
Finance Act 2016 (2016 c 24) | Legislation

Trade and Property Business Profits

71  Trade and property business profits: money's worth

(1)     ITTOIA 2005 is amended in accordance with subsections (2) and (3).

(2)     In Chapter 3 of Part 2 (trade profits: basic rules), after section 28 insert—

“28A Money's worth

(1)     Subsection (2) applies—

(a)     for the purpose of bringing into account an amount arising in respect of a transaction involving money's worth entered into in the course of a trade, and

(b)     if an amount at least equal to the amount that would be brought into account under that subsection is not otherwise brought into account as a receipt in calculating the profits of a trade under a provision of this Part other

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