180Application of section 174(2)(a) in relation to transfers of trading stock etcU.K.
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(1)Section 174(2)(a) does not affect the credits to be brought into account by the disadvantaged person in respect of—
(a)closing trading stock, or
(b)closing work in progress in a trade,
for accounting periods ending on or after the day given by subsection (2).
(2)That day is the last day of the accounting period of the advantaged person in which the actual provision was made or imposed.
(3)For the purposes of this section “trading stock”, in relation to any trade, has the meaning given by—
(a)section 174 of ITTOIA 2005, or
(b)section 163 of CTA 2009.
Modifications etc. (not altering text)
C1Pt. 4 excluded (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 129(11) (with s. 147, Sch. 17)