Policy paper

Income and Corporation Tax: trading income received in non-monetary form

This legislation will ensure that trading or property income received in non-monetary form is fully brought into account in calculating taxable profits for transactions occurring on or after 16 March 2016.

• From: HM Revenue & Customs
• Published: 16 March 2016

Documents

Tax information and impact note on Income and Corporation Tax: trading income received in non-monetary form

HTML

Draft legislation

PDF, 69.1 KB, 2 pages

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Explanatory note

PDF, 109 KB, 2 pages

This file may not be suitable for users of assistive technology.

Request an accessible format

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Details

HM Revenue and Customs considers that existing law already requires that trading and property income received in non-monetary form is brought into account fully in calculating taxable profits.

This position has been challenged in some instances, and the legislation is intended to confirm that such income is taxable in full.

Published 16 March 2016