{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-172E",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-172E.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/172E",
  "kind": "section",
  "number": "172E",
  "heading": "Acquisitions not made in the course of trade",
  "text": "(1) This section applies if—\n(a) trading stock of a trade has been acquired otherwise than in the course of trade, and\n(b) section 172C does not apply.\n(2) In calculating the profits of the trade—\n(a) the cost of the stock is taken to be the amount which it would have realised if sold in the open market at the time of the acquisition, and\n(b) the value of anything in fact given for it is left out of account.\n(3) The cost is treated as being incurred on the date of the acquisition.\n(4) This section is subject to section 172F.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 2 Ch. 11A inserted (with effect in accordance with s. 37(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 15 para. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/172E",
    "retrieved_at": "2026-10-29T09:16:32.370392+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}