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Finance Act 2002

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Changes over time for: Section 106

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Version Superseded: 01/04/2009

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Point in time view as at 30/11/2003. This version of this provision has been superseded. Help about Status

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There are currently no known outstanding effects for the Finance Act 2002, Section 106. Help about Changes to Legislation

106 Valuation of trading stock on transfer of tradeU.K.

(1)In section 100 of the Taxes Act 1988 (valuation of trading stock at discontinuance of trade), after subsection (2) insert—

(3)Where trading stock falling to be valued under paragraph (a) of subsection (1) above is sold or transferred together with other assets, so much of the amount realised on the sale or, as the case may be, of the value of the consideration given for the transfer as on a just and reasonable apportionment is properly attributable to each asset shall be treated for the purposes of this section as the amount realised on the sale or, as the case may be, the value of the consideration given for the transfer, of that asset..

(2)Subsection (1) applies where the sale or transfer in question takes place after the passing of this Act.

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