This measure affects the disposal of stock by businesses liable to corporation tax and income tax.
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This measure will ensure that the tax rules applying to transfers of trading stock or intangible fixed assets between related parties bring into account the correct values for tax purposes. The intention is to prevent attempted avoidance by ensuring that, as far as possible, values brought into account are equivalent to those that would be achieved in a sale to an unconnected third party.
The measure will have effect for transfers of trading stock or intangible fixed assets made on or after 8 July 2015.