BIM33525 - Stock: valuation on discontinuance of business: stock not transferred to another trader
S164(4) Corporation Tax Act 2009 and S175(4) Income Tax (Trading and Other Income) Act 2005
Where trading stock is not transferred to a UK trader, the closing stock value to be used is defined as the `amount which it would have realised if it had been sold in the open market鈥�. This is the net amount realisable by disposal of the stock in bulk under practical business conditions. It does not imply a 鈥榝ire sale鈥�, but the price that the goods would have fetched at the normal time for sale.