Division B2.2 Trade receiptsFor updates affecting this Division please see Part B0 UpdatesAn introduction to trade receiptsB2.201 Trade receipts—introductionThe majority of the receipts received by traders are obviously trading items, eg the sale of trading stock or the provision of services. However, there may be instances where the correct treatment is less obvious, or where the receipt should be treated as a capital item rather than a revenue trading item.ITTOIA 2005, Pt 2 Ch 6 (ss 95–106) sets out the treatment of specific receipts in calculating the profits of a trade. These rules (except for ITTOIA 2005,
For updates affecting this Division please see Part B0 Updates
The majority of the receipts received by traders are obviously trading items, eg the sale of trading stock or the provision of services. However, there may be instances where the correct treatment is less obvious, or where the receipt should be treated as a capital item rather than a revenue trading item.
ITTOIA 2005, Pt 2 Ch 6 (ss 95–106) sets out the treatment of specific receipts in calculating the profits of a trade. These rules (except for ITTOIA 2005,
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.