Commentary on Sections Overview Overview Section 156: Meaning of “trading stock”
594.This section provides a definition for the purposes of this Chapter. It is based on paragraph 5 of Schedule 15 to FA 2008. The corresponding income tax rule is in section 172A of ITTOIA (inserted by Part 1 of Schedule 15 to FA 2008).
595.Subsection (2) sets out the main difference between this definition and the one used in Chapter 11 of this Part.