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.

Documents

Draft legislation

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Explanatory note

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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.

Updates to this page

Published 16 March 2016

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