41 Valuation of trading stock on cessation
Finance (No 2) Act 2015 (2015 c 33) | Legislation

41  Valuation of trading stock on cessation

(1)     In section 162 of CTA 2009 (valuation of trading stock on cessation), after subsection (2) (transfer pricing rules to take precedence) insert—

“(2A)     Subsection (2B) applies if—

(a)     by virtue of subsection (2), no valuation of the stock under this Chapter is required, and

(b)     the market value of the stock is greater than the Part 4 TIOPA amount.

(2B)     An amount equal to the market value of the stock less the Part 4 TIOPA amount is to be brought

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