Commentary

D9.428 Trading stock appropriations

Corporate tax
Corporate tax | Commentary

D9.428 Trading stock appropriations

Corporate tax | Commentary

D9.428 Trading stock appropriations

Where a person holding securities acquired other than as trading stock appropriates them to trading stock, he is treated for the purposes of the accrued income scheme as transferring them on that day otherwise than in the course of trade and is subject to the adjustment applicable to a transferor1. No adjustment is made in respect of the deemed acquisition, which is outside the scope of the accrued income scheme2.

Similarly, where a person appropriates securities forming part of his trading stock to other purposes or retains such securities on the cessation of trading, he is treated

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