# Crossrail Act 2008, Paragraph 18

Extent: E+W+S+N.I.

(1) This paragraph applies if under a relevant transfer trading stock of the transferor is transferred to the transferee.
(2) Sub-paragraphs (3) and (4) have effect in computing for any corporation tax purpose the profits of the trade in relation to which the stock is trading stock immediately before the transfer takes effect (“the transferor's trade”).
(3) The stock must be taken to have been—
(a) disposed of by the transferor in the course of the transferor's trade, and
(b) subject to that, disposed of when the transfer takes effect.
(4) The value of the stock is to be taken to be—
(a) if consideration is given to the transferor in respect of the transfer, an amount equal to the value of the consideration, or
(b) if no such consideration is given, nil.
(5) For the purposes of this paragraph consideration given to a person connected with the transferor is to be treated as given to the transferor.
(6) In this paragraph “trading stock” has the meaning given by section 163 of CTA 2009.
(7) For the purposes of this paragraph whether a person is connected with another person is determined in accordance with section 1122 of CTA 2010 (connected persons).

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Source: https://www.legislation.gov.uk/ukpga/2008/18/schedule/13/paragraph/18 (the official version)
Page: https://openlegislation.uk/crossrail-act-2008/schedule-13/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.