Part 2 U.K. Trading income

Chapter 12 U.K. Trade profits: valuation of stock and work in progress

Supplementary U.K.

186 Determination of questions by Commissioners U.K.

(1) Any question arising under—

(a) section 175(3) or sections 176 to 178 (sale basis of valuation of trading stock), or

(b) section 184(1) (valuation of work in progress transferred for valuable consideration),

must be determined by the General or Special Commissioners in the same way as an appeal.

(2) If the same General Commissioners have jurisdiction in relation to each of the persons whose trade, profession or vocation is concerned (including any company within the charge to corporation tax), the question must be determined by those Commissioners.

(3) But this does not apply if all parties concerned agree that the question should be determined by the Special Commissioners.

(4) In any other case, the question must be determined by the Special Commissioners.