Commentary

B5.141 Farm stocks when a trade ceases

Business tax
Business tax | Commentary

B5.141 Farm stocks when a trade ceases

Business tax | Commentary

B5.141 Farm stocks when a trade ceases

The following rules apply where stocks are sold on cessation of a farming trade to a person carrying on, or intending to carry on, a farming trade in the UK and who is entitled to deduct the cost of the stock as an expense in computing his taxable profits. If the buyer is not connected with the seller, the value is taken to be the amount realised1. If the buyer is connected with the seller, the value is taken as the price which would have been paid if the parties had dealt at

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