SCHEDULES:

SCHEDULE 6 Exempt Transfers

PART I Description

Transfers in course of trade, etc.

9 A transfer of value made in the carrying on of a trade, profession or vocation is an exempt transfer if it is allowable as a deduction in computing the profits or gains of that trade, profession or vocation for the purposes of income tax (or would be so allowable if those profits or gains were sufficient and fell to be so computed).