Where an asset forming part of the trading stock of a person's trade is appropriated by him for any other purpose, or is retained by him on ceasing to carry on the trade, he is treated for capital gains tax purposes as having acquired it for a consideration equal to the amount brought into the accounts of the trade in respect of it for tax purposes1. This will normally be the
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:49