BIM33310 - Stock: trading transactions in: ways of disposing of or acquiring stock
Stock can give rise to a profit or loss by:
- sale,
- appropriations to and from stock,
- insurance claim for partial or total loss,
- barter transactions,
- use in the construction of a fixed asset,
- write off of all or part due to obsolescence or slow moving, see stock valuation (BIM33100 onwards),
- fall in net realisable value, see stock valuation (BIM33100 onwards),
- theft or other loss.
»Ê¹ÚÌåÓýapp tax value at which stock is disposed of, or acquired, depends on whether the disposal is in the course of the trade or otherwise. »Ê¹ÚÌåÓýappre are also some statutory rules covering specific situations, see the .
If the transaction is in special circumstances or is not a trading transaction you may find guidance at:
| BIM33450 onwards | Stock and work in progress valuation when trade, profession or vocation discontinued |
|---|---|
| BIM33600 onwards | Stock valuation when stock is transferred otherwise than in the course of trading: general principles |
| BIM33630 | ‘Own goods� |