Part 4: Income tax, corporation tax and capital gains tax Section 41: Valuation of trading stock on cessation Summary
This section amends the legislation that applies where trading stock needs to be valued for tax purposes on the cessation of a trade. It ensures that where the transfer pricing rules apply to the value in connection with the cessation of a trade, there can also be a further adjustment if necessary to ensure that the full value of the stock is brought into account for tax purposes. It will apply to a cessation of a trade occurring on or after 8 July 2015. Related changes are made by section 40 and section 42.